A TechLend Bridging Loan is a loan that allows you to purchase a new property without having to sell your existing property ﬁrst.
Most mainstream lenders offer bridging loans on the condition that there will be an End Debt (meaning you still owe the lender money after the sale of your existing property), however, unlike these mainstream lenders, TechLend allows you to pay off your bridging loan straight away, which can be particularly useful for situations such as downsizing.
Balancing mortgages while trying to purchase your next property and sell your existing one can be a stressful ordeal. In the ideal situation, you pick the keys up to your new house on the same day you sell your old one, however, TechLend understands that life doesn’t always go as planned.
TechLend Bridging Loans can be useful when: