A Bridging loan is...
In its basic form this is very short term mortgage and like a mortgage, it's is secured against property.
The purpose of this type of loan would be to cover shortfalls between buying one property and selling another. An example would be if you were buying a property and were in a chain, and the chain for whatever reason broke temporarily you could bridge the gap by raising funds via a bridging loan to secure your new property. Once the sale goes through on your old property you can then pay off the loan.
There are numerous reasons where a Bridging loans can be used.
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