Bridging Life
Residential bridging finance has been experiencing something of a renaissance in recent times. The "old" uses of bridging finance such as chain-breaking and the day 1 remortgage are now a more distant memory, as the industry has been seriously keeping up to speed with all that has gone on around it. Renovation and refurbishment, 100% of auction purchase, payment of tax bills, and probate property transactions are all recent examples of where bridging finance is being used nowadays. If you use a good bridging lender who also provides second charge facilities, then there is no better way to gain short-term funding. There have been casualties along the way in the last few years, as indeed there has wherever you look in all aspects of a business . The positive spin to come from all this however is the emergence of a new breed of bridging finance providers who are leaner, hungrier, and who will "take a view" on a deal as opposed to treating it as a tick box exercis...