The most important difference is the duration: you’ll often take a mortgage out for 25 years or more, but bridging is generally for 12 months or less.
The other noticeable difference (and not in a good way) is the cost. Mortgage rates at the moment are under 5% per year for most borrowers, but bridging tends to be 8% at the very lowest end – all the way up to 15% or more.
Those are the most obvious differences when you sit down and compare the two. But there are other differences too – and it’s these that allow you to use bridging in creative and interesting ways:
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