KIS Bridging Loans can also provide help to finance exit strategies
Bridging finance is only a short term method of borrowing, therefore when taking out a bridging loan an exit strategy needs to be in place.
Common exit strategies often involve repaying the bridging loan once the property has been sold, or raising a long term finance facility to repay the bridging loan.
KIS Bridging Loans is a trading style of KIS Finance, who are independent commercial finance brokers who in addition to being specialist providers of bridging loans they are also specialise in providing commercial mortgages, development finance and buy to let mortgages. They are therefore able to arrange the best possible deals for bridging finance, and also able to help provide a range of finance options when refinancing is to be the exit strategy.
A recent example was for a client who had obtained planning permission for an old derelict barn that he owned to be converted into two residential properties. A bridging loan was raised, secured on the derelict barn, to fund all the building work that was required to complete the conversion of the two properties. Following completion of the conversion the bridging loan was repaid by raising a buy to let mortgage on one of the properties. The client quickly rented both the properties and all raised another buy to let mortgage to provide the funding for another development project.