Bridgingloans.com reports rapid take-up of bridging loans in Scotland over past six months

  • Scottish bridging loans account for 30 per cent of the company's completion figure since launch in March 2007
  • Highlights growth of Scottish short-term finance market - fuelled by increase in property auctions, repossessions and interest rates

Bridgingloans.com, a leading UK provider of Bridging Finance solutions, has announced a rapid take-up of its bridging loans in Scotland, following the launch of the company's Scottish residential and commercial bridging loan services in March 2007. Bridgingloans.com's Scottish services accounted for 30 per cent of the company's completion figure over the past six months. This highlights the growing demand in Scotland for short-term finance options - which has been fuelled by a rise in the number of property auctions, house repossessions and higher interest rates on mortgage repayments.

Bridgingloans.com offers flexible short-term finance, which can be set up within a typical time frame of just five days. Bridging loans provide individuals and businesses with a quick cash injection - for a range of purposes that may include short-term help to purchase a property at auction or to re-mortgage. Bridgingloans.com works alongside Scottish-based financial brokers, estate agents and IFAs to offer more finance options and help customers achieve their goals.  

Mark Doyle, Bridgingloans.com's Business Development Manager (BDM) for Scotland, said: "Not too long ago in Scotland, little was known about bridging loans, other than they were recognised as a solution to bridge the financial gap between selling one home and buying another - but they can have far wider relevance than that. We've held a number of educational workshops on bridging finance in Scotland, to help organisations and individuals explore the many different uses for bridging loans, and these sessions have had a really positive impact on the way Scottish brokers view bridging finance.

"The legal system surrounding the Scottish property market is very stringent and can produce difficulties for buyers - making it an ideal environment for brokers and IFAs to offer the flexibility of bridging finance. However in reality, bridging loans can facilitate so many more situations - from those facing repossession to family members who are expected to pay Inheritance Tax on a property before it is transferred into their name. Bridging loans are a powerful tool for companies and individuals who simply need a rapid cash injection," Mark Doyle added.  

Bridgingloans.com is one of the largest lenders in the market, offering flexible finance up to £10million, and provides its clients with tailored solutions, to suit individual needs and overcome unexpected financial circumstances. However, before it launched its services into the Scottish market, very few individuals, companies and brokers were aware of all the benefits bridging finance can offer. Bridgingloans.com's launch into Scotland - alongside recent educational workshops - has helped remove the confusion surrounding short-term finance, while its regional BDM is on hand to offer face-to-face help and support.

About Bridgingloans.com:
Bridgingloans.com is dedicated to providing quick and easy access to a broad range of resources to give clear and concise information on short-term bridging finance. Its online application process adds to these resources to make life simple for borrowers looking to secure a property.

Bridgingloans.com is the new public face for Bristol & West Investments Plc, which is an established, independent principal lender providing a competitive and flexible bridging loans service for residential and commercial borrowers. It has a proven track record of providing short term loan solutions to clients for over 25 years and has an experienced team of dedicated case handlers well placed to provide a tailored solution to each and every case.

Additional information is available at www.bridgingloans.com

Duncan Burford
IBA - PR for BWI
Tel: 01780 721 433
Email: dburford@iba-europe.com

Rebecca O'Regan
Bridgingloans.com
Tel:0117 9702703
Email: Rebecca@bridgingloans.com


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