Bridging finance has experienced huge growth year on year which is mainly due to a lack of appetite and the tightening of lending criteria by mainstream lenders.
The bridging sector has ‘come of age’ has evolved into a versatile, flexible and innovative form of alternative finance. Lenders have diversified their product ranges to offer a suite of bridging products to cater for almost any scenario that requires short-term property backed finance. This, coupled with an influx of new lenders entering the market, an abundance of funding and a genuine appetite to fund deals have all resulted in increased competition amongst lenders and the lowest bridging rates the market has ever seen.
Bridging finance is a short term loan, secured against property or land and is used to “bridge” the gap, until longer term finance can be arranged or the underlying security is sold. The key to the success of a bridging loan is to ensure that a viable exit strategy is firmly in place upon application.
1st, 2nd and 3rd charge loans on any type of property including:
– Semi commercial
– Land (with / without planning permission)
Mortgages by Prospero is a trading style of Prospero Mortgage Solutions Ltd.
Prospero Mortgage Solutions Ltd is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Prospero Mortgage Solutions Ltd is registered in Scotland with company number SC586335. Registered Office: 6a High Street, Dunbar, East Lothian, EH42 1EL.
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