Bridging loans UK can be used for many purposes:
Bridding loans in UK are getting popular these days. It comes a time when you know that you will receive funds in the next 3-4 months with completion of some objective like re-mortgage, property sale or invoice pending. You need funds in this short period to cover up, this is where bridging loans will come into picture. Konnect Financial will help you get bridging loan within 1 day and loan can be used for any business purposes.
- Business Funds: short term working capital
- Auctions: purchasing bargain property quickly at auction
- Temporary Cashflow problems: when you require cash urgently
- Tax Liabilities: finance those unexpected tax bills
- Property Refurbishment: upgrade your residential or business premises
- Buy-to-let: don’t miss out on an investment opportunity
- Moving House : seen your ideal property but in a chain & need temporary funding to move quickly
A bridging loan UK is used as a short term alternative until a longer term solution is available. These are short term loans usually up to 4-5 months, albeit longer periods can be negotiated either at the beginning or throughout the initially agreed term of the bridging loan.
Bridging loans UK are used primarily for property related reasons and can be secured on most residential property or commercial land. Funds raised from bridging finance can be used for pretty much any legal reason, provided it is agreed with the lender from the outset.
The highly used bridging loan these days is used to cover up for invoices due to be paid where work is already completed. Bridging loan can cover the gap and help support funds for your business.