Simple Guide to Bridging Loans
Bridging loans offer short-term mortgage solutions secured against property, generally lasting from a week to a maximum of three years. Their most common use is to bridge gaps in property transactions. You may want to buy a new home, having not yet sold your current home, and require short-term finance to make the purchase. An investment property, holiday, trophy home, or buy-to-let property can be used as security against bridging loans. Keeping the process moving They can keep property chains moving so you don’t have to pull out of a purchase whilst you sell your existing property or await sale proceeds. Some use a bridging loan to quickly release equity from a home before refinancing elsewhere or to meet the … Read more