first time landlords
first time buyers
If your buying a new home but haven't found a buyer for your property, a bridging loan could be for you. Bridging loans can also be used to purchase a property at auction.
A bridging loan can be useful if you need to borrow money for a short period. Bridging loans are priced monthly, rather than annually, because they tend to have a 12 month term and can be repaid early. Interest is only due up until the point the loan was repaid, so if you've bought a property to flip, a benefit of a quick flip will mean that you've paid less interest on a bridging loan.
One of the downsides of a bridging loan is that they are quite expensive.
get finance for ..
Bridging loans can also help if your looking to purchase a property fix and re - sell quickly