What Are The Risks Of Bridging Loan?
A bridge loan, also known as a bridging loan, is a good financing option for buying or investing in residential property. It offers numerous benefits, including speed of arrangement and flexible eligibility criteria. With the increasing popularity of bridging finance, p2p lending platforms also started offering such loans. However, you must remember that, like most financing options, there are pros and cons. Here in this article, we will describe what a bridging loan is, how it works and what risks it carries. What Is A Bridging Loan? A bridge loan is a short-term financing option used to bridge the gap between purchasing a new property and selling an existing property. In addition to being a useful tool for those looking to buy a new property quickly, these loans also carry several risks that should be carefully considered. The term of a bridge loan can vary from 2 weeks to 3 years. However, most bridge loans are usually between 6 and 12 months in length. Most homeowners choose br
