What is a bridging mortgage, and how does it work?
The bridging mortgage is a short-term loan when you need to borrow the gap between selling your old home and buying a new one. To cover the gap between two mortgages, we can request a bridging loan/mortgage from your new lender. For example, imagine you purchased an apartment a few years ago. The price increased, which means you have built positive equity, and you can use this equity to buy a second or new home.