Bridging Loans...
What is a Bridging Loan? Why would you need one?
A Bridging Loan is a short term mortgage which is secured by your property. This is usually arranged by getting a mortgage on the new property, and taking out a second mortgage on the property being sold. This type of loan is mainly available for house sales and is usually taken out to solve a temporary cash shortfall which can happen when selling and buying different properties or to pay for renovations. It 'bridges' the gap between the purchase of a new property and the sale of an existing one.
There are generally two categories of Bridging Loans:
Closed - this is when you have exchanged contracts on both the property you are buying and the property you are selling.
Open - this is when you have not exchanged contracts on the property you are selling.
Selling and buying houses does not always go smoothly, it just takes a break in the chain for the sale of your existing home to fall through. You quickly need a Bridging Loan to complete on your new property purchase, otherwise you could lose it if someone else makes an offer.
A Bridging Loan can also be the solution if : 
You need to buy a new property before you complete the sale of your home and the equity is released also there is likely to be a delay in moving after completion. You need funding for short-term commercial or residential renovations, saving a property purchase if the mortgage is delayed. The main advantage of a Bridging Loan is the speed you can get the money you require, in order to successfully complete the purchase of your new home. We specialise in arranging fast personal and commercial low-rate bridging loans with easy online application and competitive rates.
Our top lenders can give you an in-principle decision within 24 hours by using our fast application, and provide a speedy release of funds to you - usually in less than a week and often within days. Our specialists will advise you on the best option and the best rates, and help you to bridge the funding gap.
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE . The FSA do not regulate some types of buy to let, commercial, overseas mortgages, and credit or loans not secured on property. Calls may be monitored and recorded for training / compliance purposes.
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