Bridging Finance
Sherine Silva and Karen Rieveley have extensive experience of working with the major bridging finance lenders in the UK. So if you need a bridging finance solicitor who can get your deal done.
Bridging finance in the UK is a type of short-term loan that is used to bridge the gap between the purchase of a property and the availability of long-term financing. It is typically used by individuals or businesses who need to secure financing quickly in order to close a real estate transaction.
Bridging finance in the UK is a type of short-term loan that is used to bridge the gap between the purchase of a property and the availability of long-term financing. It is typically used by individuals or businesses who need to secure financing quickly in order to close a real estate transaction.
From a legal perspective, bridging finance in the UK is governed by the Financial Conduct Authority (FCA). This regulatory body sets out the rules and regulations that must be followed by lenders and borrowers in order to ensure fair and transparent lending practices.
When seeking bridging finance, it is important to understand the terms and conditions of the loan, including the interest rate, repayment period, and any fees that may be associated with the loan. It is also important to consider whether the loan is secured or unsecured, as this will impact the lender’s rights in the event of default.
In addition, borrowers should be aware of their rights under the Consumer Credit Act, which provides protection for consumers taking out loans or other forms of credit. This includes the right to cancel the loan within 14 days of signing the agreement and the right to request a copy of the credit agreement.
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