Always have it in mind that most of the Bridging Loans are secured and the financier will always need you to put up a huge amount of collateral againt the loan, if you are going to lend on. Therefore, before you indulge in this kind of debt, it is best for you to be100% sure of your capability to repay the money within the stipulated period. Note that if things go wrong for any reason and you are not able to repay the loan, you risk losing your current property together with your old property.
Since this is a short term loan, it comes with very high interest rates. Nonetheless, the advantage is that this type of loan is approved very fast normally within 1 to 3 business days and thus it is great for people who need to purchase property fast lest it is bought by someone else.