A bridging loan uk can be an invaluable financial product. It enables you to buy the property of your dreams if you have not sold your existing home, by providing a temporary funding solution – in effect meaning you are paying two mortgages at the same time. There are two types of bridging finance, closed, which is available to those who have exchanged contracts on their existing property but have yet to complete, and open bridging, for people who need to buy a property without having sold their current home. The latter is obviously more high risk and requires more thought before entering into.

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There could be a time when you have to get your hands on a lot of cash very quickly, especially when it comes to exchanging contracts on your dream home. Sometimes property chains fall through and homebuyers could find yourself with a week to find thousands of pounds. Well that heartbreaking moment when you discover your home purchase is foundering calls for a quick fix, such as a bridging loan. A bridging loan is a way to plug your short-term cash needs, and can make all the difference between having and losing your dream home, without having to take out another mortgage. Find out how bridging loans work here.

Read more about the Bridging Loan