Bridging Loans

A Bridging Loan is a loan that is usually taken out to cope with a cash shortfall when buying a property, to safeguard a property purchase if the mortgage is delayed, or if you want to buy a second property before you've sold your first.

There are some things to remember when looking at a Bridging Loan:

• They are short term loans generally up to 12 months

• The borrower must have an exit route, typically a sale or remortgage

• They are normally up to 65% of the  property value

• Higher than mortgages

• Normally secured by getting a mortgage on the new property and taking a second mortgage on the property being sold

For more help and advice on securing a Bridging Loan, please click on the links below:

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT