Bridging loans have come into their own as a form of finance for the enterprising and shrewd borrower. The bridging market has grown exponentially over the last few years and is now estimated to be worth over 2.5 billion and growing at 25% per year. Although it still has a role to assist borrowers release cash quickly it is increasingly being used to help property developers and investors.
As well as traditional uses for bridging loans, such as residential property, there are lenders who will fund semi-commercial and full commercial properties. This is despite commercial property being perceived as having an increased risk factor. Although the risk has not diminished , the demand for this type of borrowing has forced lenders to respond. This demand is fueled by the growth in interest in commercial property by professional investors, and the rising incidence of businesses getting into financial difficulties, thus needing to raise capital quickly.
Because bridging lenders take a flexible approach to clients with bad credit they will not usually require a credit check, however they will always need to be satisfied that the property being offered as security is...
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