A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. But before you had out and make an offer on that next property please contact us to discuss your circumstance.
A bridging loan is not always the best choice and there some considerations with this type o loan you will need to factor in. This finance is generally secured against your existing property in addition to the new one as you are utilising the equity in your existing property.
It is important to note that usually, bridging loans are short term and often more expensive than other types of loans. We often have alternative choices to bridging loans that will be longer term and at a lower cost / interest rate.
The options available to you will depend on your personal circumstances, so why not CONTACT US now and we will see how we can help you.