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In some situations, you may want to purchase a property, but it can be deemed by some lenders as ‘unmortgageable’ if the property is in serious disrepair, or if it doesn’t have a kitchen or bathroom or both.
You can purchase the property with a bridging loan, to add these in and then transition on to a mortgage once the work is done.
You could be buying a property that needs only slight adjustments which are also known as light refurbishments, before going on to sell it or let it out.
You could also use a bridging loan to refurbish your own property, intend to sell at a higher price. This kind of refurbishments could include electrical rewiring or fitting central hitting, or simply redecorating.