How are Bridging Loans used?
Bridging loans can often be a very useful tool in the home moving process, to provide short term borrowing to assist in the purchase of a new property and help stop a breakdown in a sales chain. Moving house can be an incredibly stressful experience at the best of times. Even when things go smoothly there is a lot to contend with such as selling one house whilst buying another one, dealing with Solicitors, estate agents, vendors and purchasers, arranging a mortgage whilst trying to get everyone involved in the chain to agree to a single moving date and then to get the removals firm to agree to the same date! Quite often there may be a chain of people moving, with several different transactions involved in the process at the same time. If anything goes wrong for anyone in this chain, it can have the effect of breaking the chain and delaying the whole process. It could even mean that someone could lose the sale of their existing house or the dream of their new home through no fault of th
