Bridging finance is temporary finance for an individual or business while waiting for something, such as the settlement of a property or obtaining a larger amount of finance. Once the sale of the property occurs, or the larger sum of finance comes through the bridging loan is repaid. Bridging finance or bridging loans are typically arranged very quickly and often don’t require much paperwork. When is Bridging Finance Suitable? Think of this; you have just sold your home or business property and settlement is 6 weeks away. This is great news of course, however there is one major obstacle that many people face during this period – you find the perfect property to purchase for your next home or business location. So what happens if you don’t have the deposit ready to purchase it? Someone else could snatch up your dream property. Fear not, this is the ideal time to use a bridging loan, you would simply need to call the friendly team at NSW Mortgage Corp to speak with a loan consultant about obtaining the funds you need to purchase your dream property. Bridging finance is also used a lot by business owners as it’s a quick way to create fast cash-flow into a business. A great benefit of bridging finance is that you won't have to make monthly interest repayments - the interest is paid back in one go at the end of the loan term, along with the principal amount.