A bridging loan is a short-term financing solution for bridging the gap between purchasing a new property and selling an existing one. It is commonly used to expedite transactions in the property market.
The loan provides immediate funds, covering expenses such as the down payment on a new property while awaiting proceeds from the sale of the current one or facilitating property acquisition in a competitive market. With a streamlined application process and a shorter repayment period, bridging loans offer a convenient option for clients needing quick and temporary funding to facilitate seamless property transactions.
