Bridging finance is specifically for individuals who require short-term loans, typically taken out for a period of 3 months to 3 years pending the arrangement of larger or longer-term financing.Request a Call Back
Bridging Finance Solutions
Unique Property Finance are specialist short term finance brokers and have access to exclusive products from market leading providers.
With over 10 years of experience in providing short term finance solutions we have access to a large panel of short term lenders which in turn allows us to provide the most competitive terms to our clients.
Whether you require fast access to funds due to a chain break or have a more complex scenario that requires short term funding, Unique Property Finance have the knowledge and expertise to deliver a tailor made solution to suit your needs. Please call our offices to have an initial discussion with one of our experts.
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Our mortgage brokers and account managers have worked in the sector for over 20 years and in this time have been successful in finding solutions to a wide range of bridging finance scenarios.
We offer a personal service, and provide each client with a dedicated bridging finance broker who ensures you fully understand the financial product you are selecting and makes sure the process is as simple as possible.
Bridging Finance Examples
There are many scenario's when bridging finance can be used to assist clients when purchasing a property. Here are some examples of this:
Refurbishment of a propertyThis can include properties that are deemed not suitable security in their current condition by high street lenders and will have an enhanced value once the works have been completed.Our solution will include a possible exit strategy if re-sale of the property is not desired.
Conversion of a propertyThis can include converting properties back to residential use from offices or public houses for example, which can be purchased with or without planning permission.
Chain break purchase
This occurs when a buyer has found a new property but must complete immediately or face losing the property because the vendor does not wish to be in a chain. Alternatively clients may not want the added pressure of selling at the same time as buying or simply do not have time to sell their current home.
Also, a client may have lost the buyer for their existing property and time does not allow a new one to be found. In this instance, rather than waiting until a new buyer comes forward for the existing property and risk losing the new home, a bridging loan may be a suitable alternative.
Below Market Value Purchase
This is where a buyer has negotiated a purchase price well below the properties current value. Subject to the value of the property being confirmed it is possible to arrange a bridging loan that is based on the current value of the property and not the actual purchase price.
This means that the discounted purchase price can reduce the amount of cash deposit required. This type of loan is typically repaid via a remortgage or subsequent sale of property. Please note the remortgage cannot always be done within the first 6 months of ownership.
It should always be noted that given the nature of bridging funding, it is more expensive than a standard mortgage and should be considered only as a short-term funding option. It is also essential to establish the exit strategy at the point of application to ensure the loan can be repaid.