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What’s a Bridging Loan, Then?
People often ask me, “Just what is a bridging loan, then?”
No, really they do. In fairness, it’s usually when I’m wearing my T-shirt that says on it “Ask me what a bridging loan is”, so you’ll see it’s not actually that unusual.
I always respond by saying:
“A bridging loan, often referred to as ‘bridging finance’, is simply a no-nonsense loan taken out to bridge the financial gap between the sale of an existing property and the purchase of new one.”
People go home more knowledgeable than they were that morning, and I go home feeling happy because my choice of T-shirt afforded me another chance to give a little bit back to the world. Everyone’s a winner.
May 24, 2008 at 10:39 am | Bridging Finance | No comment
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Carlsberg DO do Briding Loans!
When Carlsberg bought Scottish & Newcastle in a joint deal with Heineken, they did so using a bridging loan to finance the £7.8bn deal.
They have now announced a £3.2bn rights issue to repay the bridging loan.
May 19, 2008 at 5:09 pm | Bridging Finance | No comment
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Take it to the Bridging Loan
Not many people know the true nature of the wise advice James Brown was trying to instill into property buyers when he famously remarked “Take it to the bridge.”
His typical 110% enthusiasm and energy, caused him to run out of breath before completing the sentence, which should have concluded “Take it to the bridging loan.”
This is, of course, ’soul speak’ – meaning “Take out a bridging loan to finance your next property move.”
What a genius.
Please note – these facts may not actually be facts, but a very knowledgeable bloke in the pub told me them and I have no reason to doubt him.
May 12, 2008 at 8:10 am | Bridging Finance | No comment
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Bridging Loans for Commercial Property
Bridging finance is not just the reserve of private home buyers who know how to stop their dreams slipping away, a bridging loan is also commonly sought after to finance commercial property purchases.
This allows you to close quickly on a commercial property deal, and then pay back the loan after the sale of a property – refinancing with a more standard kind of loan.
May 1, 2008 at 10:40 am | Bridging Finance | No comment
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Pocket Money Bridging Loan
Spoiled kids who blow their ‘allowance’ on pre-shredded jeans and nauseating ringtones, go to their foolish parents with pathetically fake faces and get another ill-deserved sympathy hand-out. Teaching them nothing.
That now applies to the relationship between major financial institutions and the government, it seems. Having lent vast sums of money, that simply weren’t there, to vast numbers of borrowers, who were only too happy to oblige, lenders have now gone to the government with their bottom lips out and their heads cocked to one side.
The result? The government has patted them on the head, said “There, there, little Timmy” and given them a £50billion bridging loan!
So what do the rest of us get as a reward for NOT hemorrhaging cash like there’s no tomorrow? Oh, another rise in the cost of living. Thanks dad, I’m sure it’ll make me a better person.
April 29, 2008 at 8:48 am | Bridging Finance | 1 comment
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What Exactly IS a Bridging Loan?
A bridging loan – or ‘bridging finance‘ – is simply a short term secured loan, that can be arranged promptly to cover a shortfall in your finances. Typically, a bridging loan is used to finance the purchase of property, usually when the sale of an existing property is not completed in time to make payment on a new property.
April 25, 2008 at 8:19 am | Bridging Finance | No comment
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Take Away The Pain With Bridging Finance
If you’ve ever had a temporary filling from the dentist, you’ll know that it’s a whole lot better than just leaving a big old hole in your tooth – even if it is for a relatively short period of time. The pain just wouldn’t be worth enduring.
Well, a bridging loan does the same kind of thing; instead of having to suffer the pain of losing your dream property because you can’t sell your existing one in time, bridging finance fills the gap – allowing you to make the new purchase ahead of the sale of your previous property. Then, all you do is pay back the loan when you sell the old place – simple and painless!
April 19, 2008 at 8:41 am | Bridging Finance | No comment
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Say ‘Ta-ta’ to Your Savings!
When Indian motor company, Tata, recently bought the Land Rover & Jaguar brands from Ford, they had to get a bit creative to come up with the readies.
If, like me, you get a bit twitchy borrowing a few quid off someone to tide you over until payday, then imagine arranging a bridging loan of $3bn to overcome a small cashflow problem!
Tata have arranged the bridging finance for a period of 15 months – imagine the interest on that!
April 14, 2008 at 9:27 am | Bridging Finance | No comment
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Bridge Over Troubled Mortar
It’s highly unlikely that Simon or Garfunkel will ever need to look into bridging finance, but if you’re having trouble selling one set of bricks and mortar to fund the purchase of another one that you’ve already found, then a bridging loan is the perfect answer that’ll leave you feelin’ groovy!
April 11, 2008 at 8:56 am | Bridging Finance | No comment
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First Direct Tightens Purse Strings
First Direct has decided not to offer any further mortgages to consumers who are not already customers of the bank.
The reason is cited as a necessary move to enable the addressing of a backlog of requests for the bank’s products after experiencing a surprisingly high demand.
Reacting to the news on the BBC web site, Doug Segal commented: “I think this is a sensible move by a bank that has historically been very fussy about who they give accounts to. It’s media scaremongering…that turned the Northern Rock frame into a full-blown crisis when, if they had been quietly given a bridging loan, they could have probably resolved their issues without creating this atmosphere of banking mistrust and destabilisation.”
April 5, 2008 at 2:33 pm | Bridging Finance | No comment
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