This usually refers to a short term loan extended to someone to enable them to purchase a new house, despite not having the sale proceeds of an existing house.
If the sale of the existing house has been contracted (i.e. contracts have been signed and exchanged) then the bridging loan is known as a closed bridging loan. If not, it is known as an open-ended bridging loan.
Bridging loans are exceptionally dangerous as the burden of interest that can accrue in the event of any delay in the sale of the existing property can quickly bring a person to their knees.
Best avoided, both in terms of getting one, and if a family member or friend asks for one, also in terms of giving one.
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