FORGET RENTING WITH BRIDGING FINANCE
A bridging loan is just like a normal loan with interest-only repayments until the property is sold and the principal can be repaid in full. It provides the ability for customers to move on a property when they want to.
Remember that when this happens, you’ll be left paying your original home loan and the bridging finance loan at the same time. You’ll have to show evidence that you’ll be able to repay the bridging finance interest costs during the period between buying and selling.