What is Bridging finance?
Bridging finance is typically used to plug a funding gap. This may be when you are looking to by a house before your current property is sold.
Bridging finance is also used on commercial ventures such as buying a property at auction or doing up a dilapidated property that cannot be mortgaged in its current condition.
Bridging finance is more flexible that a standard mortgage, however the rates are much higher and therefore consideration and planning must be made towards exiting the bridge.