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Bridging loan ?
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Hi. I need to get some cash to purchase a house before I sell my existing mortgage free home. The new house will be less than the value I sell my existing home for. The obvious thought is a bridging loan but as I don’t know how long it will take to sell my existing home this could prove very expensive because of how long it may take. I’m thinking of meeting a financial advisor for their thoughts, but thought I would try this forum first for any views on those that may have experienced this themselves and have good ideas from their own experience. I have no issues with clearing the debt once my existing home sells but want the best economic approach. Thanks in advance for replies.