Bridging firms look more closely at a borrower’s circumstances rather than requiring approval from rigid, inflexible criteria, but of course charge rates that make them more expensive than standard term mortgages and other sources of finance.
The guide examines types of bridging loan and how they compare to alternatives, when to recommend bridging loans, the pros and cons of bridging loans, how advisers can check the reliability of providers, how advisers are paid for arranging short-term finance, and issues that may arise after the loan is offered.
Additional material was provided by Rob Jupp, chief executive officer of Brightstar Financial; David Kinane, partner at Paxton Private Finance; Jonathan Samuels, CEO of Dragonfly Property Finance; and Danny Waters, CEO of Enterprise Finance.