A LAW firm in Bolton and Bury has decide to branch out into the bridging loans world.
Clough & Willis, which has an office in Market Street, Little Lever, is introducing the service for commercial property clients.
Under the tutelage of Andrew Palmer, a senior associate, the team will be tasked with acting for both lenders and borrowers, advising clients on all legal requirements when taking out a bridging loan and ensuring that agreed obligations and timescales are met.
Mr Palmer said: "We decided to launch this new service as direct response to demand coming from our clients.
"Taking a bridging loan out is a big commitment so it is important to seek legal advice at the earliest stage possible.
"That way you can be aware of and - most importantly - pre-empt any of the usual pitfalls.
"We really see this new service as an extension of our existing commercial property specialisms and it will, I'm sure, add value and give peace of mind to our clients."
While high street lenders offer bridging loans, they say, it usually completed through mortgage brokers.
Loans in this instance are intended to be focused short-term cash advances, of between two and 24 months.
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