Taking out a Bridging Loan can be a useful, short term solution to a problem. Many people will take bridging loans when they want to buy a new property but have not yet sold their own, or when they are buying at auction or plan to improve a property and flip it on or refinance it once completed, on more favourable terms.
Bridging loans can also be taken to meet inheritance tax liabilities, which can become payable on inherited property very quickly. The taxman usually wants to receive payment within 6 months, so if you have a property to sell, a bridging loan might be a very necessary option!
We have written elsewhere on bridging loans. If you are interested in a bridging loan feel free to contact us for an initial chat. We can advise you on the options that might be open to you.
For more infomation or to speak to a specialist adviser, contact us on 01628 507477.
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