LEXLAW Solicitors & Barristers
Unregulated bridging loans are a short-term financing solution often used by UK property owners. Whether for swift property purchases, renovation projects, or addressing unexpected business costs, bridging finance can provide quick access to capital. However this is at significant cost and risk which some borrowers don’t understand. You must carefully consider the risks associated bridge loans. Seeking professional advice is crucial.
You can apply to annul your bankruptcy on the basis that all of your debts and expenses have been repaid in full or to the satisfaction of the Court. Third parties such as claims management companies commonly assist bankrupts in obtaining a bridging loan or other short term finance. Due to the nature of these complex, high interest rate loans, you should seek legal advice in relation to the same, which loans are commonly mis-sold and can result in the individual finding themselves in further financial difficulty e.g. facing possession.
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