Meaning of bridging loan in English:

bridging loan

Pronunciation /ˈbrɪdʒɪŋ ˌləʊn/

noun

British
  • A sum of money lent by a bank to cover an interval between two transactions, typically the buying of one house and the selling of another.

    ‘I also took out a bridging loan with the bank to make up the shortfall in the deposit.’
    • ‘In addition, because there is a strong market and properties tend to sell quickly - bridging loans are easier to obtain.’
    • ‘This also nullifies the need to negotiate a bridging loan with the bank.’
    • ‘Is there anywhere she can get a bridging loan if her purchase goes through before her house is sold?’
    • ‘Clearly the company will need more cash - and it says discussions are progressing for a £15m bridging loan.’