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Bridging Loans

A bridging loan is used to help purchase a new property when the current one on the market hasnt sold. Because the existing one hasnt been sold, financing is needed that will use the existing and perhaps even the new one as collateral. They have a quick turnaround for approval, typically 24 hours, and can also be funded as soon as a week after approval. Typically the terms are only for 12 months as the financing can get expensive for a period beyond that. For More Information On Bridging Loans Please Visit www.bridgingloansbrokers.co.uk