Vector bridging finance can be used for:
Auction Purchase – Clients require pre-approval for a property that they wish to bid on at auction and need to complete within a fixed period of days after successfully bidding for the property. In this instance, a bridging loan is the perfect tool to help facilitate the purchase. The exit is then to re-finance with a traditional mortgage.
Tight Transaction Deadlines – Often banks and high street lenders cannot facilitate a short term loan quick enough whereby you risk missing out on the deal.
Chain Break Finance – A classic bridging loan need – where a client has an offer on their property but wishes to purchase another (or put a deposit down) and funds are required quickly for a short period and repaid when the property transaction completes.
Revolving Credit Facility – We can offer a bridging loan secured against a main asset whereby the charge is registered and remains in duration and this allows you to draw down in stages as and when required.