mortgage bridging loans

christabelle23

Can anyone advise how the system works in Scotland, we have a delay of 1 month of us moving into our new house and the buyers of our house moving in, therefore we have to apply for a bridging loan for one month. If we pay the cost of this which I believe is around £45.00 per day, do we play the mortgage as usual on our old propery until the new buyers move in.

foxyuk

yes you will have to pay both...

there is closed bridging and open bridging.....

are your missives fully completed? if so u will have interest normally 2% above the rate on the full amount ........ plus an admin fee.....


beware as some banks want up to £500 admin fee