What is a Mortgage?
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Bridging loans are arranged for shorter terms - usually 6 weeks up to a maximum length of 18 months.•
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Bridging loans can be arranged on all types of buildings and land whatever the condition, unlike mortgages.
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Bridging loans can be arranged and completed extremely quickly whereas mortgages take longer to arrange.
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Bridging loans, unlike mortgages, do not usually require monthly payments.
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Bridge loans can be used for a variety of purposes, including:
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Buying a new home before selling your current home
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Making renovations to your current home before selling it
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Covering unexpected expenses, such as medical bills or car repairs
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Financing a business acquisition
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Providing working capital for a business
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