IFA hopeful product will trigger deals
One of the Island's largest independent financial advice firms is hoping to give a boost to the local property market and help would-be sellers.
Edgewater Associates has introduced a new home bridging loan to its portfolio.
Bridging loans are short-term lending options, most commonly used to purchase a new property before an existing one is sold.
Such loans help free-up those in the property market stuck within a chain where prospective buyers cannot progress until a property is bought or sold.
In an agreement with Conister Bank, Edgewater will provide advice on loans for amounts up to £300,000 on an interest-only basis.
The loans will also be open to retiress which the firm says could prove useful for those hoping to downsize.
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