Commercial bridging loans are secured in nature and can be easily availed by placing any real estate or site for developments as collateral. One can borrow anything from ?100000 to ?400000 as commercial bridging loans with repayment duration of 1 ? 12 months.
Commercial bridging loans are either open ended or closed ended. When you have taken the final decision of selling your present property finished before you buy a new one, you can take the closed ended commercial bridging loans as support. If your present property selling is yet to happen, then you can opt for open ended commercial bridging loans.
The repayment option for commercial bridging loan is quite comfortable as you just have to pay the due interest every month. The principal amount or balloon payment can be made at the maturity of term. This allows you to easily sell your old property and arrange cash to pay the principal amount.
Commercial bridging loans can be used for investing in commercial property like office complex, constructing industrial units, retail and licensed premises, buying machine or equipment, hotel and other commercial developments.
Commercial bridging loans can be taken by borrowers having bad credit history. Bad credit occur due to arrears, late payments, overdue, defaults, CCJ, IVA, Bankruptcy etc.
Bridging loans are short term loans and due to this feature carry slightly higher rate of interest compared to other loans. A borrower can search for low rates online. There are many lenders offering different deals so, a borrower can easily compare and choose a deal with lower interest rates.
A financial gap that calls for substantial funds can be easily filled by taking up commercial bridging loan. These loans allow you to overcome your problem effectively without wasting much of your time.
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