Bridging loans are short term loans that are extended for a short time period. These loans are secured against either your old property or the new that you intend to purchase. To-let properties, auction properties, developmental sites, commercial and semi commercial property is acceptable. These loans offer a substantial amount ranging from ?100000 to ?400000. The amount offered also depends on the market value of collateral and borrower's repaying ability. The repayment term varies from 1-10 months. With the help of these funds you can easily fix up the financial gap.
Bridging loans are offered at slightly higher rate of interest because they are short term loans. Bridging loans are available as: open end and close end. Open bridging loans are a fruitful option for those who have not yet completed the sale of their existing property. As against the close ended loans are for those who have taken the final decision of selling existing property and buying a new one.
Bridging loans can be availed by people having blemished credit records. Those with poor credit like CCJs, IVA, arrears, late payments, defaults, missed payments and Bankruptcy are all acceptable for bridging loans.
There are numerous banks and other financial institutions that offer bridging loans. But applying online is the most convenient option as you just have to fill up a simple online form. Also there are innumerable lenders that offer beneficial deals with little research you can easily get a great deal that offers lower rates.
Now you can easily fulfill you property needs with the help of bridging loans that offer easy monetary assistance to facilitate your decision.
0 komentarze:
Post a Comment