Bridging finance lender responsibility

Hoenir

silvercar said:

I'm surprised that the bridging company isn't prepared to extend the loan term. 

There's most likely far more to this story. 

TripleH

Aren't bridging loans only ever short term arrangements? The indication from the name is for a loan as a stop gap from when 1 long term loan ends and another financial solution takes effect.

I thought these were higher interest but over short periods. Could it be that the loan has dragged on longer than the lender wants and they are after their money back?

My understanding is that the interest is higher but they are only ever likely designed for brief periods because that is how the company is setup.

silvercar

TripleH said:

Aren't bridging loans only ever short term arrangements? The indication from the name is for a loan as a stop gap from when 1 long term loan ends and another financial solution takes effect.

I thought these were higher interest but over short periods. Could it be that the loan has dragged on longer than the lender wants and they are after their money back?

My understanding is that the interest is higher but they are only ever likely designed for brief periods because that is how the company is setup.

This is all true, but a relatively high percentage end up being for longer than originally intended.