MCAL | Bridging Advice
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A bridging loan is a temporary short term loan taken out usually to solve a cash shortfall when buying property. Usually residential bridging loans are used when somebody purchases property before they sell their own, or need funds quickly to purchase investment property or properties at auction and do not have the time to put adequate funding in place

A bridging loan can be used for any purpose. The most common uses for bridging loans are:

Bridging loans present a greater risk to the lender so the product is usually more expensive than normal mortgages or loans. Because of this, bridging loans should only be considered as a viable option if you are likely to be able to pay it in a short term usually up to a maximum of 12 months and in all cases a robust exit strategy will need to be in place

For more information on bridging loans click here

  Bridging Finance