the advantages of bridging loans and development finance
As you would expect, many of the barns that are converted into stunning country homes are classed as “uninhabitable” to begin with, and for this reason, you cannot borrow the renovation funds through a traditional mortgage. This is not a problem, because there are alternative funding options such as our development finance.
Funding via our development finance comes much faster than a potential commercial bank facility, which can take several months to process alone. Applying for development finance is a very quick and straightforward procedure, and the money can often be transferred into your account within a matter of days (if required).
To gain a firmer understanding of how this kind of funding works, read our Beginner’s Guide to Bridging Finance.