Bridging Loans are Short Term Finance that are usually arranged within a short time-frame.
Bridging finance is useful to gain capital quickly and typically is an interim solution until a lower-interest, more long term solution can be found. As the name suggests, they exist to “bridge” a gap.
Bridging finance is always used to raise finance quickly, and often in one of the following scenarios:
- Property Refurbishment
- To complete a development
- To purchase property that is unsuitable for lending from a mainstream lender
- To bridge a finance gap between the acquisition of one property and the sale of another etc.
Since it is for a specific short-term purpose, interest rates can be higher than traditional term loans. A bridging lender will also normally require a clear exit strategy, to ensure that the bridging loan and any interest costs will be fully repaid.
Whatever your motivation for obtaining Bridging Finance, where you are an individual or a company, you need the right lawyer in your corner.
Why choose Attwells?
For Our Speed and Diligence: In a competitive market the speed and diligence of your lawyer is key. With Attwells, you can rest assured that no matter what the transaction entails, your lawyers will be proactive in pushing your matter forward to an efficient and satisfactory conclusion.
For Our Competitive Fixed Fees: Attwells are offer competitive fixed fees on all of our Property Finance services, so that from day one, you will know how much your legal costs will affect your bottom line. This is all part of our commitment to transparent and fair pricing.
For Our Proactive Communication: Is there anything more frustrating than not knowing the status of your matter? Or worse still, not being able to get in contact with your lawyer for an answer? At Attwells we understand that communication with the client and their professional team is critical, which is why we will give you regular updates without being prompted. You will always be given the direct line to your lawyer, so you can spend your day running your business, rather than waiting on hold.
We use cutting edge Case Management Software to ensure that staff absences (either through holiday or unplanned) are always covered by colleagues within the department, so you can be sure that your matter will not be delayed by matters outside of your control.
For Our Expertise: We have completed hundreds of Bridging Finance Mortgages over the years so we can say with some confidence that your matter is unlikely to be anything we haven’t seen and dealt with many, many times before.