In bridging finance, most bridging loan providers require property as security when considering lending you money. Therefore, the lender will secure the loan by taking charge of the property, either by 1st charge, 2nd charge or 3rd charge

1st charges usually occur when there are no existing loans or mortgages secured against it (unencumbered) or if the current lender is being paid off by part of the bridging loan. 

2nd or 3rd charge are used when there is an existing charge on the security property, but it hasn't been cleared.


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