Bridging Loan Types
Bridging finance is designed to be short-term and is always secured against UK bricks and mortar or land. Bridging loans are often used in relation to residential property when a more conventional mortgage may take too long to arrange or is not available. Bridging finance can also be used when purchasing a property prior to the sale of an existing property, in situations where capital needs to be released quickly. Another use for bridging finance would be to avoid bankruptcy or repossessions and to clear any mortgage arrears.