Bridging – a flexible finance solution

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Bridging finance offers far reaching solutions to short term financial issues, and can support a broad range of projects beyond housing or construction.

The firms latest deal saw a business owner in Newcastle upon Tyne,  keen to access cash quickly to support his latest business project.  The client had been given a security property in part exchange under a wider business agreement. The property was sold Subject to Contract, however, a completion date had not been finalised and a cash injection was required quickly.

The client approached BFS who discussed the options and the client opted for a six month bridging loan at 0.99% PCM with an agreement to repay the loan in full once the sale completes. The property was valued at £295k and a £164,551 loan was provided.

Adam Wolstenholme at BFS commented: “Bridging can be a viable solution for unlocking so many different types of business deals and providing access to cash quickly and efficiently with a clear exit strategy in place that’s viable for the client.

“This case typifies the versatility of bridging and the support it can offer when used in the right way.”

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