Bridging finance can be used to buy any type of property, including land. The land could be for any purpose, including for commercial and residential. Land can be bought with a bridging loan for an individual or a company, and is often used to purchase building plots for property development.
Once all the correct permissions are obtained and a plan formulated we can help in obtaining development finance for the land possibly in the form of a self-build mortgage which can be used to repay the bridging finance and fund the building project.
Why Finance a Land Purchase with a Bridging Loan?
A plot of land has been placed for sale and you would like to build on the land for either investment or personal use. A bridging loan can be used to purchase the land which will allow your own funds to be used for the build costs, once the project most people look to sell or mortgage the property in order to pay back the original bridging loan.