Refurbishment Bridging Loans
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What are Refurbishment Bridging Loans?
A Refurbishment Bridging Loan is a loan that is designed to cover the costs of refurbishing a property in the short term while you either decide to sell the property, or arrange a long term alternative such as a mortgage.
Many clients look to buy properties at auction, and if those properties are not in a good state of repair to qualify for a mortgage. They look to approach brokers for a bridging loan in order to carry out such refurbishments before either selling or arranging a longer term solution.
When applying for a refurbishment loan, most lenders will just want to know how long you anticipate that you will need and intend to use the finance for, and what your exit strategy is in terms of repaying your loan.
Find out how our panel of Specialist Finance Brokers can assist to find the right deal for you.
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