AUGUST 2008: We have access to an exclusive mortgage product that allows same-day re-mortgage.

Bridging Finance (also sometimes referred to as Bridging Loans, Bridge Loans or just Bridging) is typically a short-term loan that an individual or business uses to supply cash for a property transaction until more permanent financing (typically a mortgage) can be arranged. Quite literally it 'builds a bridge' between two financial positions and can be a very powerful tool in your armoury, depending on your particular situation.

There are two main points that you need to consider before you opt for a Bridging Finance package: Your needs and the state of the property market. You then also need to understand whether you require Open Bridging or Closed Bridging.

Open Bridging Finance is, as the name suggests, open-ended meaning that there is no defined date by which it must be paid back. You may use this if, for example, you wish to purchase a property at auction and do not have time to arrange mortgage finance first. You can repay the open bridge just as soon as you have mortgage funds available to draw down and do so.

Closed Bridging in contrast has a date agreed at the outset by which it must be repaid in full. This date can be several months away or may even be as short as a single day; in this latter case you may hear it called Daylight Closed Bridging or even just Daylight Bridging Finance. You can use this to allow you to buy a property and, rather than pay a deposit, through a creative financing strategy take cash out of it on completion.

One of the major benefits of Bridging Finance obtained through Summit Finance is that it will allow you to negotiate and complete on a property as a cash buyer, even though you may have no cash of your own.

You will need to evaluate your current situation to determine if your needs justify taking on this type of finance. Will you lose the new property if you can't offer a deposit? Would you be eligible for a substantial discount on the purchase price if you can come up with the cash fast? Can you later re-mortgage for more than the purchase price and take cash out?

Once you've found a motivated seller and closed your Below Market Value (BMV) deal, the hassle to finance it begins! This is where Summit Finance can help you make it a No Money Down (NMD) deal.

Traditionally, you would get a mortgage to buy the property at the full purchase price, and then wait on the lender's whim - perhaps for up to 6 months - for a re-mortgage against the higher Open Market Value (OMV) to release the equity. This process can be very costly and time consuming, and ties up capital in the form of your deposit. If you are like most investors with a limited supply of ready-cash, there is a limit to how many properties you can afford to own in this state!

Like many other investors, we became frustrated with the need to get two mortgages (or have a massive pot of cash), pay two lots of solicitor's fees and wait (perhaps for many months) to get cash out of the deal before we could move on. We knew there must be a better and cheaper way of doing this.

Our bridging finance system saves you time and money on each property you buy. So there's no need to pay high fees or wait for the 'privilege' of arranging a re-mortgage ever again.

Summit Bridging Finance is simple to use, very effective and is proven. It has been used successfully by people ranging from those doing their first ever property deal, to experienced investors with multi-million pound portfolios, and is recommended and resold by mortgage brokers.

Our fees start from just 0.4% and we challenge you to find cheaper!

We can recommend both solicitors and mortgage brokers from our panel if you wish us to, and by taking this option you are assured of a team of experts working for you, who are accustomed to handling BMV/NMD property transactions (it is a little different from the regular process and many high-street solicitors may not be familiar with it, which can potentially introduce delay and jeopardise your deal).

You may hear people telling you that same-day bridge and remortgage is no longer available and that you must now use one of a number of alternative No Money Down Schemes instead. This is untrue and we have access to a number of mortgage products where the lender is quite happy to allow same-day bridge and remortgage, new builds, flats above shops, auction purchases etc. If you are considering one of the many No Money Down Property Finance schemes currently being sold then read this FREE 10 Questions You Must Ask Your NMD Scheme Provider report first.

You can Apply Now for a Decision In Principle for bridging finance for your property deal, or get your FREE Report on how Bridging Finance works by entering your name and e-mail address below, and we'll rush a copy to you so you can save yourself time, money and hassle on your very next deal and help you achieve your investment goals that much sooner.