"A Bridging Loan covers a variety of different purposes. It is not only required for buying a new property”
Bridging loans have a multitude of uses and although they are secured against property or land the actual loan itself can be used for almost any legal use. You may require funds for unexpected bills including HMRC debt, legal settlements.
You may require cash flow funding for your business or contract fulfillment
You can also utilize a bridging loan if you need funds for property development and refurbishment. If you have to renovate your real estate project, you may need instant funds.
Refurbishment Finance for restoration or renovation of properties Usually, people don’t find a property suitable for the purposes of a mortgage. The reason can be its bad condition. Or if it is a residential property and it is to be used for mortgage purposes, then the property may not be habitable in its current state, therefore mortgages lenders would deem the security unfit for mortgage purposes, a bridging loan is the perfect solution for any of the above circumstances.
All FCA regulated applications are processed via our sister company, Redrock Commercial Finance Ltd. Redrock Commercial Finance Ltd is authorised and regulated by the Financial Conduct Authority number 742764. You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.