Residential bridging loans are designed to be quick, flexible and give people certainty in buy-to-let and homeowner transactions, they can assist borrowers in a variety of situations. Sometimes clients have just days before a deadline and urgently need to put new finance in place. Borrowers may also need more time before their long-term lender is ready, bridging loans can be used till long-term loans are in place.
Bridging loans are very simple, mainly because bridging lender’s are more concerned about the security property rather than the borrower’s affordability. As long has the borrower has viable exit plan lenders are good to go.
