Bridging Loan UK Mortgage definition

UK Mortgage definition

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Bridging Loan

A short term loan designed to cover the costs of temporarily owning two properties (the one you're buying and the one you're selling) in order to help the property chain move. Because of the short term nature of the loan, interest rates will be higher for a Bridging Loan than a normal mortgage.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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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.

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