Bridging loans: the risky finance that could cost homebuyers | Money | The Guardian
The mortgage industry may still be recovering from the effects of the credit crunch, but in one often-overlooked corner of the market business is booming.
Demand for bridging loans – short-term secured loans designed to bridge a temporary cash shortfall when buying a property – has surged, say experts.
The loans are usually taken out to help someone buy their next property if the sale of their existing one hasn't been completed. Many would-be home movers have fallen foul of one of the problems afflicting the property and mortgage markets, and are keen to do whatever they can to prevent their deal falling through
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