Rather than lose the opportunity of capturing your dream home you may seriously want to take the opportunity of taking a short-term loan, in the form of a bridging loan, to enable you keep the deal on track.
Bridging loans are sometimes used also used by businesses to cover themselves between funding tranches.
In simple terms a bridging loan is like a very short-term mortgage, and similar to a mortgage, it is “secured” against a property.
Property speculators may often use bridging loans when purchasing properties for example, at auction.
As they potentially carry a greater risk for the lender than a standard homebuyer’s loan, bridging loans are inevitably more expensive, and should be used only if you are confident that they may be re-paid quickly, say within 6 months.
If you would like to explore your bridging loan opportunity further, or would simply like to discuss your potential requirements, without any obligation on your part, them complete the simple on-line form below and a member of our team will get back to you quickly.
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