A short term bridge loan to cover an interval between two property finance transactions
A short-term bridging loan is a type of loan used to ‘bridge a gap’ to traditional funding, which is often used to secure funds quickly to cover a pressing need. The main reasons people choose a bridge loan are the following:
In Summary, they are often used to fund the borrower for a period of time whilst they refinance for a longer term debt or sell another property. There are many other reasons that a person may need to raise funds quickly and due to the simple nature of certain lenders application processes, a bridging loan can be an appealing option
