While many people think of using a bridging loan to purchase new property, it is becoming more and more common for customers to rely on personal bridging loans for improving their property. If you own property that is in poor condition, then you likely already know that it can be almost impossible to get a loan using that piece of property as collateral. We will work with you to provide you with the financing you need to complete your home renovation or refurbishment project.
Your Property Isn’t in Great Condition
If you are looking to restore or renovate property that isn’t in great condition, but you do not have enough money to complete the necessary work without obtaining financing, then personal bridge loans are your best option. These loans can be secured against property that it is any condition, unlike traditional loan products like a mortgage.
Get Ready to Sell or Let
Renovations are sometimes necessary before you can sell a home or let it out to a tenant, but paying for those renovations can get expensive. For this reason, personal bridging finance is a great idea and makes it easy for you to cover the cost of your expenses before you are able to either sell the property for a profit or refinance it with a more traditional loan, such as a mortgage.
Since bridging loans are not to be used for long-term projects, they are great for when you are looking to improve a home to sell it or need to make improvements so that you can obtain a more traditional loan. Our bridging loans make it easy for personal customers to get the necessary funding that they need to improve their property, no matter whether the property is their main residence, or a piece of investment property that they have recently purchased.