If you are buying a property which requires a lot of work and isn’t currently habitable, most high-street lenders will refuse to give you a mortgage. This is where bridging finance comes in. Bridging finance enables you to buy a property, do it up and then refinance onto a standard buy-to-let mortgage and it rent out. Or sell the property and invest the proceeds in another project. Bridging is also useful if you are buying property at auction and are working to a tight deadline, as it is usually arranged much faster than a standard mortgage deal.
Sign in to leave a comment.