Following the Governments announcement on the UK going into lockdown, many businesses have followed protocol and have instructed their employees to work from home.
Bridging finance can in some circumstances represent an ideal short-term funding opportunity for companies.
The law and practice relating to bridging finance can, however, be a complex area, and it is vital to seek legal advice to clarify your exact position before making a final decision. Stirling Ackroyd Legal is a leading London law firm with a dedicated team of in-house business and corporate law specialists. We have diverse experience in this area and can provide straightforward advice on all of the options, tailored to the circumstances and the needs of your business.
Bridging finance is often used to ‘bridge the gap’ between selling one property and purchasing another.
It may also be used when money is needed upfront in relation to a particular transaction. This may be an attractive option for many small-to-medium-sized businesses, because it has the potential to provide an instant cash injection when funds are needed to cover a short-term, interim period, usually for around two years or less.
Bridging finance can be used in relation to both commercial and residential property transactions and may be obtained from a number of finance companies, with certain high street lenders now also offering this service. Many will require you to seek independent legal advice before taking out bridging finance and in any event, it is important to consult a specialist solicitor in order to fully appreciate all of the implications of this option.
Whatever the size and nature of your business, if you are considering taking out bridging finance, we will be able to help you.
We are a large firm offering a full range of legal services, and can, therefore, offer ongoing advice, support and representation in relation to all aspects of your business, including commercial property transactions.
Please contact us without obligation for more information, and we will be very happy to help you.
Should you wish to know more about the services we offer, please feel free to contact our client services department via our enquiries page, or give us a call 0203 058 3365.
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