Property development is still very profitable industry. However most of UK property developers struggle to get finance from hight street lenders for unmortgageable properties. Developers often visit property auctions to look for bargains. If they found an old property in a poor state or a property has no kitchen or bathroom they will strugle to get funding from high street banks. Refurbishment or renovation can ultimately add value to a property and make it mortgageable. Specialist bridging loan lenders are much more flexible from high street banks and can provide appropriate finance for experienced property developers. In some cases Bridging Loans Brokers can arrange pre-approved bridging loans, so developers can bid with full confidence.