One of the mysteries of the English language finally explained.
A sum of money lent by a bank to cover an interval between two transactions, typically the buying of one house and the selling of another.
- ‘I also took out a bridging loan with the bank to make up the shortfall in the deposit.’
- ‘In addition, because there is a strong market and properties tend to sell quickly - bridging loans are easier to obtain.’
- ‘This also nullifies the need to negotiate a bridging loan with the bank.’
- ‘Clearly the company will need more cash - and it says discussions are progressing for a £15m bridging loan.’
- ‘Is there anywhere she can get a bridging loan if her purchase goes through before her house is sold?’
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