What are Bridging Loans and how do they work?
A bridging loan is a type of short term property backed finance. Bridging is often used to fund you for a period of time whilst allowing you to either refinance to longer term mortgage or sell a property. Bridging loans are usually offered for between 1-18 months, with the loan repayable in full at the end of the term. There are many situations where bridging loans may offer a viable funding solution, but here are just a few: