BRIDGING FINANCE
Bridging finance is a short term loan requiring similar proceedings to a mortgage, i.e. a survey and credit checks. However, bridging companies are geared for speed with offers being available in as little as 72 hours.
Bridging can sometimes be the only way forward.
Example:
To purchase at auction where the purchaser has only 28 days to complete.
To purchase a property where the seller must have a speedy completion, including distress purchases (imminent court proceedings). To purchase with substantial discount
i.e. 20% off the market value and remortgage immediately back up to 85% loan to value. This would release 5% of the equity on completion of the remortgage. 
Key Facts
Purchaser can lend up to 85% of valuation,i.e. 15% Discounted Accepted. The sellers discount can be accepted as the full deposit. The purchaser can self certify. No exit fees or redemption penalties. Interest from 1% - 1-5%
per month. Minimum Term is 1 month. Application Fee, usually £295. Open and closed bridging finance available. Same day offers possible, with next day drawdowns. Consumer Credit Liscence Number: 562186 Data Protection Number: PZ9286553
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