Bridging finance is a short-term loan secured against the property to be bought, usually lasting between 6-24 months. The process to arrange bridging finance is faster than a usual traditional mortgage. The exit to the bridging finance can be either a refinance, or a sale of the property.
GPS Finance (www.gpsfinance.co.uk) have a specialist financial advisor, who has been in the industry for over 25 years, and a professional team who are able to provide personalised solutions when it comes to arranging bridging finance.
From winning your bid to completing your purchase — here's how it works.
The property is sold subject to conditions to the winning bidder.
Arrange bridging finance with our partnered sister company, GPS Finance.
A specialist financial advisor analyses the case to provide personalised options.
The bridging finance application is made with a lender.
Valuation (either physical or desktop) is taken by the lender.
Receive the binding offer from the lender.
Finalise legal work with your solicitor.
The purchase is completed within the timeframe given.
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