Bridging Finance

Bridging Finance

Bridging finance can be used for a range of purposes, from purchasing a new property before selling an existing one to funding a business acquisition. At Ownright Custom Finance, we offer flexible bridging finance solutions that can be tailored to meet your specific needs.
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What is Bridging Finance?

Bridging finance is typically offered for terms of up to 12 months, although some lenders may offer longer terms. Interest rates on bridging finance are generally higher than standard home loans or business loans, reflecting the short-term nature of the loan and the higher risk involved.

How Bridging Finance Works

Bridging finance is typically offered for terms of up to 12 months, although some lenders may offer longer terms. Interest rates on bridging finance are generally higher than standard home loans or business loans, reflecting the short-term nature of the loan and the higher risk involved.

Benefits of Bridging Finance

Bridging finance can offer a number of benefits, including:
Flexibility: Bridging finance can be tailored to meet your specific needs, whether you need to finance a property purchase, a business acquisition, or cover short-term cashflow needs.
Speed: Bridging finance can be approved quickly, allowing you to take advantage of time-sensitive opportunities.
No repayments required: With some bridging finance solutions, you may not be required to make repayments until the end of the loan term, when the property is sold.

Risks of Bridging Finance

As with any loan, there are risks associated with bridging finance. These include:
Higher interest rates: Bridging finance generally comes with higher interest rates than standard home loans or business loans.
Short loan term: Bridging finance is a short-term solution, which means you will need to repay the loan quickly or refinance to a longer-term loan.
Property market risks: If the property market changes during the loan term, the value of the property being used as security may decrease, leaving you with a shortfall.
Refinancing risks: If you are unable to refinance the loan at the end of the term, you may be forced to sell the property to repay the loan.

How to Apply for a Bridging Finance

To apply for bridging finance, you will need to provide details of the property you are purchasing or selling, as well as details of your current financial situation. The lender will assess the value of the property being used as security, as well as your ability to repay the loan.
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