Why Choose Commercial Bridging Finance?


Commercial bridging finance is extremely useful for many reasons, be it breaking a property chain, providing emergency cashflow, releasing equity on a revolving basis to provide 100% funding for expanding your portfolio, development, or indeed any legitimate business reason.


This kind of financing is available on a first and second charge basis in instances where more than 40% of a property is considered commercial such as purchasing a retail unit that has a flat above it. In instances where commercial units are purchased using commercial bridging finance, it commonly means that the unit will be refurbished and then selling it or moving over to a commercial mortgage. However, what are the benefits of commercial bridging finance?


They Are Quick to Obtain

If you are in need of cash quickly, commercial bridging finance can be a feasible option as obtaining this kind of financing can be done rapidly and effectively. In fact, it is highly likely that the loan will be paid out in just a few weeks when compared to a few months, which is how long a conventional loan or mortgage can take.


No Limits On Intended Purpose

When we consider standard loans, banks and lenders are very specific when it comes to how you can use the money. This is why they often have a list of permitted and unpermitted intended purposes. In contrast to this, commercial bridging finance can be used for any purpose and as long as you can prove the use of the money and the deal makes commercial sense for the lender, all that is required is for you to provide the confidence that you can pay back the loan.


More Flexibility

In many instances, banks and lenders will say how and when the loan will be paid back but bridging lenders tend to work differently. This is because they are more flexible when it comes to the duration of the loan as well as interest payments.



The Lending Criteria is Relaxed

In the majority of instances, commercial bridging financing is often secured against an asset that has a certain value which means that it could be a home or investment property. What this often means is that the financing is secured against the value of these assets and that can mean that the usual lending criteria is not required. Therefore, there is often no need to meet credit score criteria and provide proof of income with certain lenders as well as your current financial position. If you have the collateral and can provide this, then you won’t necessarily have to worry about meeting other criteria in order to obtain your commercial bridging loan.


Interest Rates and Fees Are Low

It is common for commercial bridging finance to be more affordable when compared to other loans and mortgages. As it is a bridging loan, it means that it will be paid back quickly, often within a few months and so, there are no high rates of interest to worry about or monthly fees.


In summary, commercial bridging finance can prove extremely useful when it comes to accessing flexible, affordable and quick financing. However, before taking that step, it always makes sense to obtain professional advice and guidance.




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