Bridging finance is one of the most effective types of bank loan. A bridging loan is a property back finance that can be availed for a short period of time. A bridging loan is often being used to fund you for a specific period of time while at the same time it also allows you either refinance to get a long-term debt or to sell your property. the offered duration of bridging finance is typically between 1-18 months with the full repayable loan at the end of the month. unlike other short-term loans, you do not have to make any payment during the term of availing finance.
The application process of the bridging finance is quite simpler than other types of loans and can be completed quickly with ease, typically within the duration of 5 to 14 days.
a bridging loan can be used in commercial finance for following:
1. buy property quickly, for example, auction purchases.
2. better to buy uninhabitable property.
3. to find conversion work or property restoration.
4. to prevent repossession
5. to buy desired property under market value.
The best benefit of bridging finance is that it can be offered against any type of property purchase that you want to do.