We're going to spend the next few episodes exploring ways you can finance property projects other than using a mortgage. In this first episode, I set out to demystify bridging finance: a powerful tool, but one that investors often find confusing and intimidating.
And it's true – if you don't know what you're doing, bridging can be expensive and even dangerous. But there are certain situations where – with the right knowledge – it will give you access to profitable deals that otherwise would have passed you by.
Listen to this week’s show and learn:
- The simplest way to think about bridging finance
- How it's different from a mortgage – and how you can use those differences in your favour
- The 3 main situations where bridging finance is useful (doing deals that would be impossible without large amounts of cash)
- How much you can borrow (and why it might be more than you think)
- How much it will cost you
- The different ways of structuring your repayments
- How the process works
- The 3 critical questions you should ask yourself before taking out a bridging loan
If you'd like to see the lending criteria of my bridging company and use our calculator to play around with some numbers, you can visit lendswift.co.uk/borrow