If the client has a deposit available which can be used towards purchasing the new house, then bridging loans can simply be used to make up the difference and be repaid when the current property is sold.

In this way a bridging loan can be used for 100% of the new property purchase price and as bridging loans are rarely dependent on a client's income, should the client have a mortgage and bridging loans at the same time this will not alter affordability or ability to make payments.

Bridging finance can be used for various purposes like -

• Fast Short Term Finance - Residential property purchase, Buy to let, auction and capital raising
• Property Development - Bridging loans can be used to raise funds required to finance the property
• Maintaining Sale chain - When a property purchase is being planned from the sale of other property, and sale is not completed at that time of purchase, short term bridging loans can fill up the space. So that you can proceed without any gap. You can repay the bridge loan from the sale of the property.
• Renovation, conversion and refurbishment - Due to poor condition of the property, it becomes unsuitable for mortgage purposes, bridging loans can be secured against that kind of property which helps the landlords to renovate or convert and then sell it.
• Repossessions Prevention - If a property is about to be repossessed, a bridging loan can be used to pay off the debt and prevent the repossession.
• Business Expansion