Bridging loans and other finance options
Bridging loans and other finance options
25th August 2005
Bridging loans can be useful if you are waiting for the sale of your own home, but have already spotted a suitable property you want to buy. It's not cheap (around 1-2% a month) but you can pay it back as soon as your own home has sold. They may insist on a minimum (around £30,000 is usual) and will only lend around 60% of the equity in your own home. There are other finance options worth considering.
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