A bridge loan is a short term loan, 6-12 month term, used in the most by property speculators but also by people who are renovating for example. It is a means to fund a project, where the end goal may be to sell the property or buy another.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Alex Cheema does not provide advice on mortgages, bridging loans or equity release. This service is by referral only.
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