A bridging mortgage is a short-term loan secured against a property that can be used for a variety of purposes.
One of the most common uses is to allow buyers to purchase a new property before they have sold their current home “bridging the gap”. Bridging may also be used to fund renovations of a property where traditional lenders will deem the property uninhabitable or too risky or repay an existing mortgage if the property is on the market for sale.
Bridging loans are usually fast to arrange and can be in place for a matter of days/weeks or usually up to circa 12 months if required.
Bridging finance typically has higher interest rate and upfront costs compared to a standard mortgage partly due to the risk factor and short-term nature of the financing.
If the bridging mortgage is secured against your primary residence the mortgage will be regulated by the Financial Conduct Authority (FCA). We are fully transparent regarding pricing and costs, our aim is to search the market to obtain the very best possible terms based on your requirements and handle the application process from start to finish.