How bridging loans provide fast access to funds

“If it takes longer than two weeks, then it’s not bridging finance”

Christian Faes, Managing Director of Montello Bridging Finance

Bridging finance, or bridging loans, can benefit you or your business for a number of reasons and can be a great short-term solution. The main advantage of taking out a bridging loan is getting the funds you need quickly, which is something many other loans are unable to do. The whole process can be over in just a few days, from an almost instant decision when you apply to receiving the funds in as little as three days.

Many people use bridging loans to fund property or projects which have a tight deadline. Obtaining the required finance is no use if the application takes a few weeks and misses the deal. Although interest rates are important when choosing a bridging loan, they may turn out to be irrelevant if you can’t secure that property or investment deal in time.

Reasons to get a bridging loan

Other than providing funds quickly, bridging loans can help you:

Cover a cash shortfall

If you need to raise capital for any purpose, a bridging loan can help. You may need finance for a car purchase, holiday or to pay tax bills and you’re unable to wait until you get longer-term funding.  

Buy property at auction

There is just a 28 day time frame to complete a property purchase at auction. This can make it difficult to secure a mortgage in time as the process usually takes a number of weeks. As a bridging loan can be arranged quickly, you’ll be able to finance the sale in plenty of time before the deadline.

Purchase buy to let property

A bridging loan can provide funding to help build your portfolio or cover renovation costs for a rental property. It can help expand your investment as well as increase the value of property you refurbish.

Renovate property

If you want to buy a property to renovate, you may find it difficult to get a mortgage if the building isn’t up to living standard. A bridging loan can fund the sale and renovation costs until you can arrange more permanent finance.

Invest in a business deal

A commercial bridging loan can help improve your business by funding new commercial premises, updating stock or helping with cashflow. Commercial investments can have tight deadlines so you will need money quickly, an advantage of using a bridging loan.

We provide a fast turnaround

We understand time is of the essence and will give you a decision in principle as soon as possible when you apply. We aim to release funds to you within a matter of days so you don’t miss out on a property sale or investment deal. Contact us and one of our advisers can review your individual situation to find the right bridging loan for you.  

This information should not be interpreted as financial advice. Bridging loan rates are subject to change. Speak to our advisors for a loan illustration.