Scenario 1 – Any legal reason – If you have another use for commercial, domestic or any reason whatsoever then you’ll be glad to know that you can use this type of credit for any reason provided that it is legal

Scenario 2 – Purchasing a property at auction – With land and property auctions it is normal that transfers of funds take place very shortly after an auction ends. If you have no commercial mortgage or loan in place then bridging finance is a perfect short term solution.

Scenario 3 – A business needs to raise cash fast – In this instance a business may need to buy out a competitor or expand it’s existing business and it doesn’t have time to wait for a commercial mortgage or business loan. Bridging finance can normally be raised in as little as 2 or 3 days.

Scenario 4 – A business is moving premises – Unfortunately normally you can’t close your main business until your new plant or premises have been prepared with machinery or the necessary equipment to function properly. In these cases Temporary bridging home loans credit can be used to provide temporary cash until your new premises are functioning and the old premises sold.

The examples just shown show the typical applications of bridging home loans, but the uses are as varied as the people who need the finance. The best thing to do next is to get quotations for bridging loans. Check the links at the bottom of the article for further information.

Of course you may want to know about the expense to give you an indication lets assume that you need a bridging loan of say £100000 at a rate of 1% per month would cost you £1000 for a 1 month period. Many factors such as security offered and a customers risk profile can give a lower or higher rate. Interest rates vary depending on the security offered and your credit file.

Many people don’t apply for bridging home loans because they expect to be rejected, or have already been turned down by banks. You may be surprised though as we can accept applications from people with previous bankruptcies.