This is a type of loan used to cover shortfalls between buying one property and selling another.
An example of when you might need a bridging loan would be when you have exchanged contracts to buy your new home but are let down on the sale of your existing one.
To secure your new home, without incurring large penalties and losses you could use a bridging loan.
It's basically a very short term mortgage. Like a mortgage, it's a loan that is "secured" against property.
Any type of residential, semi-commercial or commercial property or land in England, Scotland and Wales can be considered as security for a bridging loan.
If you require this type of loan we can refer your details.
Mortgage Saints Ltd is an appointed representative of Home of Choice Ltd which is authorised and regulated by the Financial Services Authority.
Your home may be repossessed if you do not keep up repayments on your mortgage
