From: john boyle 
Newsgroups: uk.finance
Subject: Re: Bridging Loan
Date: Sun, 30 Jan 2005 23:54:58 +0000

In message <364uafF4t7efcU1@individual.net>, Ade Murphy 
 writes
>What is the typical rate for a bridging loan. Amount is approx £30k for
>maybe 7-10 weeks.

Bridging loans dot exist, per se, unless you have exchanged contracts by 
on both transactions by the time you need it. If you have done so, then 
expect 2+ over base rate plus lots and lots of fees and legal 
requirements with charges on both properties (assuming the underlying 
transaction is a sale & purchase of properties) , because the lender 
aint going to make any real dosh from interest in only 10 weeks.

These days the expression 'Bridging loan' seems to be used solely by 
estate agents trying to flog houses, and they use the expression in a 
way that makes clients think they are commonly available and 'run of the 
mill'.

In over 30 years I have only ever found one person who asked for a 
'bridging loan' who really needed one.

Its a bit like asking for what you think is the prescription when you 
should be telling us the symptoms so that a proper diagnosis can be made 
and the appropriate medicine prescribed.

Why do you need a 'bridging loan'?
-- 
John Boyle