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What are Briding Loans?
A bridging loan is short-term temporary loan, often used during the house buying process to fund any gaps in finance.
Sounds great, but I still don’t understand - how is this different to a normal personal/business loan?
The main difference is in the length of time the loan would be taken out for - it may be for as little as 1 day to 1 month long.
Can you give me an example?
You have found the house you want to buy - put in the offer, and now want to pay. However the sale of your house is not yet fully complete, or you are still waiting on your mortgage to be processed.
Rather than take out a large loan over 5 years, it makes sense to take out a bridging loan which you can repay as soon as possible without being penalised.
Need more information or want to know who to go to for Bridging Finance?
Visit http://www.personalloansmadeeasy.co.uk/bridging-loan.php
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Bridging Loans convention March next year. Get in contact for information.
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