M
mover
Guest
I took out a 1 year bridging loan last January to part fund the cost of of new house that I am trading up to. I have had my current property on the market for the last couple of months but there is no sign of a sale, which seems to be a generic problem in the area at the moment. The bridging loan is due for repayment in mid-January, but at this stage I can't see that my house will have sold and the deal fully completed by then. What the banks stance likely to be on this, i.e. shouldd I be able to keep paying interest on the loan until I can repay it, or are they likely to want to extend the loan by a fixed period, i.e. 6 months or 1 year?