How do Bridging and Development Loans work?

Bridging and Development Loans were originally designed to help people complete the purchase of a property before they have sold their existing home. This short term funding option can “bridge” the gap to give more flexibility. 

In this episode, the mortgage expert explains how bridging loans are now often used to purchase properties that could not be purchased with a standard mortgage. You may wish to consider bridging finance when wanting to purchase and “do-up” a property, before re-financing or selling on. It is also very useful when speed is essential, such as purchasing at auction or being let down last minute with other finance options.