Traditionally this was the most popular reason to use Bridging Finance.
Buying a rundown, low-priced property and renovating it to achieve a higher re-sale price is a significant chunk of the property development market.
Many of the best opportunities are found at auction, but they will often be in poor condition and most traditional lenders won’t finance property deemed uninhabitable (derelict, has structural issues, no working kitchen or bathroom).
Bridging finance can be used to fund the purchase and renovation work and maximise profit on these types of properties.
Why choose PFG?
Committing to a property purchase at auction, completing within a few weeks, fitting new kitchens & bathrooms before listing the property again within the loan term and securing a profit is no small feat. Speed and pricing are the main drivers for bridge loans, but you need to consider who you’re borrowing from; if the renovation takes longer than expected, or if you go over budget, which lenders are going to work with you to overcome these problems?
We know which exactly lenders fit with exactly which projects, so you have the smoothest journey from purchase to completion (even if it does go a little over deadline!).
