As thousands of underfunded endowment policies start coming to the end of their lives, the demand for bridging loans is expected to rise; as people struggle to make up the shortfall on their under performing endowment policies.
Bridging loans are a very expensive way of borrowing, with monthly rates of between 1.5% to 2% (akin to credit cards).
People should exercise due care when thinking of taking out one of these expensive products.
