Mind the gap if you use a bridging loan - Telegraph

Mind the gap if you use a bridging loan - Telegraph

With house prices abroad falling by as much as 70 per cent, more UK buyers are tempted by bargain holiday home investments, turning to short-term lenders to seal a quick deal.

However, the strategy is risky – if you can’t get a mortgage, you could lose your new home and your old one.

Sub-prime problems have seen Florida property prices falling up to 70 per cent, while recent Spanish government statistics show approximately 700,000 unsold holiday homes, and a house price drop in certain coastal regions of as much as 50 per cent.