What Are Bridge Loans?
A bridging loan can be useful if you need to borrow money for a short-period of time. They are typically used to help fund a new house purchase before your existing property is sold, or when you are looking for help when buying a house under the hammer, at auction.
Bridging loans are similar to a very short term mortgage. Like a mortgage, it’s a loan that is “secured” against property.
Bridging loans can also be used as a simple alternative to high street lending, using the money for purposes other than a house purchase, such as home improvements, a wedding or a new car.
Talk to us today to discuss your bridge loan needs.