What are bridging loans used for?

There can be times when you want to buy a new property, but selling your existing oneis taking much longer than expected. In this type of situation, a Supreme Finance bridging loan could be the easiest way to arrange short-term funding quickly and without hassle. As the name suggests, this will enable you to ‘bridge’ the gap between the sale of your existing home and the purchase of your new property.

Bridging loans are also used by buyers bidding at property auctions and by landlords and property developers to carry out renovation work finance for a quick sale or to obtain a conventional mortgage.