What is a bridging loan uk?

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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