Bridging Finance
Bridging Finance
Bridging finance or a "Bridging Loan" is a short term loan which is secured on your property. There are two types of bridging finance available, "open" bridging (no set repayment date) or "closed" bridging (with a set repayment date).
Bridging finance may have higher interest rates than residential mortgages, however one of the benefits is that the finance can be put in place quickly.
Bridging finance could be considered when purchasing a property at auction or when you are moving house before selling your existing property.
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