Defaulting on a bridging loan is a serious matter. As most bridging loans are secured, usually against a property, failure to repay the loan could result in the loss of this asset. The lender may take legal action to recover their funds, which might involve taking possession of and selling the property to cover the outstanding loan amount. This could also further harm your credit rating and make it even more challenging to obtain credit in the future. It's crucial to discuss any potential difficulties in meeting repayments with the lender as soon as possible; they might be able to work out a revised payment plan or other solution.