Thursday July 2, 2020

Know the dangers of bridging finance

Banks provide two types of bridging finance to facilitate homeowners - closed bridging and open-ended bridging.

2nd June, 2007

Banks provide two types of bridging finance to facilitate homeowners - closed bridging and open-ended bridging.

Closed bridging refers to a case where contracts have been signed on the sale of a vendor’s property and there is an agreed final closing date. In this case, the vendor needs finance to tide them over and allow them to purchase their new home while waiting on the funds from the sale of their initial property to become...

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