This week Russell and Alasdair sit down to chat about how a change in the market has lead to a boom in the bridging finance.
Traditionally, bridging finance has been unpopular because many people believed that it was too expensive. However, it is a great option if you want to buy, refurbish, re-finance and sell, or even better, rent out. We have just bought a deal off Alasdair who has undergone a probate sale in Darlington, whereby the family were looking to sell quickly and he bought the property for £63,000. Myself and Samuel have now undergone bridging finance to buy it, refurbish with our money and then put a buy to let mortgage on which will allow us to pull majority of our money back out for other investments.
If anyone has any personal stories on bridging finance, whether it was successful or a disaster, we would love to hear from you! Please email: [email protected]
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