Bridging Loans vs Secured Loans
We would recommend taking professional advice before taking a secured loan that you will use for brodging loan purposes.
Request a Quote and our advisors will discuss your options and help you make a decision.
- Bridging Loans
These are usually short term loans of a reasonable size that are use to fulfill a cash deficit while a sale transaction (usually a home) completes. Secured loans are usually longer term arrangements, for similar amounts, but the life of the loan will normally be measured in years rather than months, as in the case of bridging loans - Secured Loans
Can be used for bridging purposes but only recommended if you intend to use the money for another purpose (eg. home extension ) once the bridging requirement is complete.
Take advice if you need a bridging loan
Bridging loans are specialist loans - usually for large amounts, usually for short periods of time and rates of interest may vary.
Having a bridging loan does not stop you from applying for another loan
that will be used for a different purpose. If you have just bought a new property you may be considering home improvements, double glazing, or a loft extension perhaps.
