A Bridging loan is a short-term secured loan that essentially fills the gap between making a purchase and other funds becoming available. As this is a type of secured finance typically you will need to own property, land or another high-value asset in order to be eligible.
Essentially it can allow the borrower to access funds quickly and is most commonly used by property owners, developers and investors in order to be able to refurbish a property or to move into a new property whilst waiting for their current property to be sold. However many customers have used a bridging loan for debt consolidation and improving cash flow for the business. You could be eligible for a bridging loan even if you have poor credit.
Development Finance is a slightly different product and is available to both first-time developers and developers with a proven track record. This type of finance is specifically for refurbishment or construction of a project, as well as contributing to the property value/purchase. Weston Financial has access to lenders who are able to secure against future development projects and fund up to 100% of the GDV.
Contact us today to discuss your Development & Bridging options
Yes- Even if you’re a first-time developer with a small project, we can help. We also offer a lifetime broker fee, so we will not charge for any future developments.
We can offer Development finance upto £500m
Yes- we can provide 100% funding, but this will depend on your individual circumstances. Our Bridging and Development team will be able to assist further once a full fact find is performed