When you are looking to purchase a new property, you should be aware about the prices. In recent years, the real estate prices in UK have shot up making it a difficult proposition. Since the amount required is large enough, you have to depend on external financial help. For this purpose, you can seek the assistance of bridging loans which is specially designed to assist you in the endeavor. These loans in UK are meant to offer interim financial support. It basically helps to overcome the cash gap which may arise prior to the purchasing of a new property. These loans offer prompt finances within a short notice, so that you can finalize the deal. The amount under these loans can be used to purchase residential properties, commercial properties, business development sites etc. Bridging loans are secured in nature. In the case of these loans, the property you are purchasing acts as the collateral. The amount offered under these loans is determined by using the method called loan to value ratio. Usually, you can accesses 80% of loan to value ratio as amount, which means you can actually obtain up to 80 % of the total value of the loan amount. Although these loans are secured in nature, the interest rates levied are slightly higher. It is because the repayment duration of the loans lasts for a few months- to 1 year. You can access these loans in two forms from the financial market, i. E. Open end and close end. * Open end bridging loans: This loan option is meant for those borrowers who have not yet sold their existing property and are facing cash crunches. * Close end bridging loans: This loan is meant for borrowers who have sold their existing property and are waiting for the payments. You can source these loans from various lenders such as banks, financial institutions as well as online lenders. But it is the online lenders who offer a lot of options to borrowers in terms of interest rate and repayment option. These loans assist the borrowers to overcome the financial gap which in turn enables a borrower to clinch the deal.