What is a Bridging Loan?

A bridging loan as the name implies is a loan used to bridge the financial gap between monies required for your new property completion prior to your existing property having been sold.A bridging loan is in simple terms a short-term mortgage that is secured against the property that you are selling with the money that is lent being used to complete the purchase of the new property. Because of the nature of their use bridging loans can be arranged in a very short period of time usually around