Bridge Direct 0Private Bridge Loans are a short-term and temporary funding option. These are intended to be used to as a temporary gap where a debt is due and used when purchasing the property. This is where the term ‘bridge’ comes from, as the loan is effectively ‘bridging’ the gap in finance for a short period until a main line of credit is available. They can also act as a short term stop gap for general loans as well, generally where pressing circumstances occur.
Bridge loans are short term funding solutions that are generally used to fund a property transaction. In more recent times this has be extended to include other products that can enable the borrower to begin or compete one transaction (whether it is aproperty or business venture) whilst waiting for a longer term funding solution to be finalised. A bridge loan will be secured against any suitable commercial or residential property, or some other asset such as piece of land.
When looking to get a Bridge Loan, Bridge Direct will be able to give you an instant decision and approval for your application. As Bridge Direct are lenders, and not brokers, they have direct access to the funds they lend. As a result they can approve your application instantly, even if you have bad credit or bad credit history.