Short Term Bridging Loans

What are short term bridging loans?

Short term bridging loans were created for those on the property buying journey, providing an extra cushion of security in between selling your current home and buying your new one. Financially, this is a period that could be stressful for your family – a short term bridging loan can relieve some of the worry.

This kind of loan is also useful for those interested in property development, allowing you to buy, turn around and sell a home more quickly. Short term bridging loans can be fixed – the same amount of interest every month - or variable – where payments change – depending on what is best for you.

There are typically two types of policy – open-bridge and closed-bridge. Closed bridge is when there is an identifiable point where the loan will be paid back – open bridge is much more risky as there is no such date.

The policy you can get depends on a number of factors – the size of your current property, the security available and your income.  It is also important to note that there are high interest rates and some fees involved with these loans, and so they are not for everyone.
That is where we come in. Access Financial Services brokers have copious years of experience, but more importantly: we listen to your needs and treat them like they are our own. Based on the information you provide for us, we will always aim to ensure you’re making the smartest financial decisions, and always explain this to be easily understood.

Speak to an expert on 0800 999 3939