Dodds` Company Blog

In reality bridging loans are used to provision a quantity of funding when a new property purchase is forthcoming and proceeds from the sale of an existing property which was going to be used for the new purchase have not begun to be received. Signing up for bridging loans isn’t easy or easy, historically banks are less sure to confirm a bridging loan application than any other type of finance, because of this it is critical that you employ the services of pro and well informed commercial bridging loan brokers to help with all steps of your request should you want to get an ideal result. When approaching the application for bridging loans it’s vital that your company can demonstrate that it has the means available and a technique in place to exit the bridge if the loan goes full-term, and the sale of the property which was to be used as funding for the new purchase has still not occur.There are basically 2 sorts of Bridging Loans, there’s the closed bridge which indicates a bridging loan that is used to buy a new property, where the sale of the old property has reached contract stage.

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