15 Sep Bridging the Gap – Could a Bridging Loan be the Solution?
Are you renting your current premises but keen to move your healthcare business to a new freehold location? Making that move is exciting—but sometimes not straightforward.
If the perfect property comes on the market, you may need to act fast to secure it. Yet there are a number of hurdles that can slow you down—sometimes enough to risk losing the opportunity altogether.
This challenge is common across the healthcare sector: from pharmacies and dental practices to veterinary clinics.
The Obstacles you Might Face
Change of use: You might find the ideal property, but if it needs change of use—say from residential to commercial—you could face delays. Even if your offer is accepted, the lending bank might not want to complete and provide the purchase finance until planning approval is in place. That waiting period could allow another buyer to step in.
Development experience: Perhaps you plan to build or redevelop a site, but you don’t have the property track record that many lenders require. Or maybe you’re struggling to find a lender willing to provide development funding.
The Solution: Bridging Finance
This is where bridging finance can make all the difference. A short-term bridging loan can:
- Help you secure the property quickly, without waiting for planning approvals or a change of use to be finalised.
- Give you breathing space to arrange long-term funding or complete any necessary development.
By using bridging finance, you can act quickly, secure your ideal location and give your business the space it needs to grow.
Once the change of use has been approved or any property development is complete, you’ll have access to a far wider range of lenders. This makes it easier to refinance the bridging loan onto standard long-term lending terms.
At that point, you’ll own the freehold you wanted—providing your business with a valuable asset and the security of ownership. Instead of paying rent, you’ll be investing in your own property and building long-term equity.
Next steps – Work with a commercial finance broker
If you’ve found the perfect freehold but are unable to move forward—perhaps due to planning delays or funding challenges—get in touch.
We’d be happy to discuss your situation and explore how bridging finance could help you secure the property and protect your business’s future.
Assisting with the set up, purchase and expansion of healthcare businesses is what we do.
Contact Saroma, for an initial conversation to explore your options.
