A bad credit bridging loan is a short-term loan, which is secured against a property. These loans are designed to bridge a gap between two events, such as the purchase of a new property and the sale of your current home.
These loans are usually taken out for a maximum of 18 months. They are limited to 12 months for bridging loans secured against your own home as they become regulated by the FCA.
In almost all cases, where a loan is repaid before the end of its term, you only pay interest for the period that the money is borrowed.