Is the most commonly known form of bridging finance and in the main is utilised to bridge the gap in a property chain. Bridging finance is typically a short-term loan that covers both your existing home and the new property which you're looking to purchase. Repayments on your bridging loan are usually calculated on an interest only basis during the time it takes to purchase your investment property, potentially source a tenant and refinance onto a long term facility which in most cases would be a Buy To Let mortgage.
With an HMRC bill coming due for payment and a cash flow block, BF24-7 was approached by the owner of a retail business to find a solution, the business was asset rich and owned the retail store outright. BF24-7 were able to find a lender who would cover the bill, whilst another of the owners' assets were sold.
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Bridging Finance 24-7 LTD is a trading style of Business Finance 24/7, registered address 29 Peter Street, Manchester, M2 5QJ. Company number: 12005348. Registered in England and Wales. DPA No: ZA541464