People use bridging loans when buying their residential home for two main reasons. They want to secure the purchase of the property when they haven’t sold their current property; they use the bridging loan to secure the purchase.
You can move very fast and purchase the property within 4 weeks and often secure a bigger discount for being able to complete quickly.
However, short-term loans like Bridging can also be attractive to people who are downsizing, buying from auction, renovating or looking to buy their retirement home.