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Bridging loans are effectively short-term mortgages which
has been secured using property. Bridging loans tend to
have higher interest rates than traditional mortgages, but
generally you get the money quicker allowing you survive
the time between your purchase and your sale.
A bridging loan is a risk for the lender who will be gambling
on your situation and your ability to sell your house and
repay the loan.
Bridging loans are suited to people who are sure of their
situation and sure they are able to pay the money back once
they've made the sale.
Sometimes referred to as "bridging finance" or
"short term finance", a bridging loan is a short
term loan used usually when buying a house.
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