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Pink Home Loans to offer bridging finance

Pink Home Loans has entered the bridging finance mortgage sector.

It has teamed up with Affirmative, Cheval and Lowry Capital for the launch of its bridging finance proposition.

Pink says that in the current climate, bridging can be used in a number of ways such as when a chain breaks down or there is a temporary gap in completion dates.

It can also be used for auction purchases when deposits have to be paid on day 1 and completion must take place within the month or for property refurbishment.

Associate director of marketing and IT Neil Hoare says: “Historically intermediaries may have been put off bridging finance due to the high costs involved for their clients. But in the current climate the prospect of losing a sale and having to start the buying and selling process all over again in a falling market, is not worth the risk”.

“Bridging Finance will offer intermediaries with a solution if their clients need to borrow short-term finance quickly and will boost their own income stream in the process”.

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