A bridge mortgage, also known as a bridge loan , is a short-term loan used to finance the purchase of a new property before the sale of an existing property. The loan "bridges" the gap between the sale of the old property and the purchase of the new property.  

Bridge mortgages are often used by home buyers who need to move into a new home before their old home has sold. The loan allows them to purchase the new property without having to wait for the sale of the old property to close.  Bridge mortgages typically have higher interest rates than traditional mortgages and are designed to be paid off within a year or two. They are meant to be a temporary solution and are not intended to be long-term financing.