Bridge Your Financial Gap With Short Term Bridging Loan
Short term bridging loan normally ranges from 2 to 6 months although variation on these standard periods can be negotiated. Loans can be agreed from £50,000 and more. Short term bridging loan is offered to borrowers with slight interest rate as the loan is short term.
Bridging loan is of two types like
1. Open bridging loan is a loan where you are buying a property and the contract for sale of your existing property has not been completed.
2. Close bridging loan is a loan where you are buying a property. And the contract for sale has been completed but there is a delay between the receipt of funds and the settlement to purchase the new property.
Short term bridging loan can be used for a variety of purpose like
- Purchase a property from an auction.
- To enable the purchase of one property before the completion on the sale of another.
- Temporary funding for the purchase of a defective property such as pending completion of repairs.
- To fund the purchase of a property pending the arrangement of a long term mortgage. For example when an investment property purchase is pending for lack of arranging a buyer to purchase in a short term.
To raise capital pending the sale of security property.
Even you want to purchase an oversea property to grab the great auction bargain, then consider short term bridging loan as an ideal option.
Other than the buying and selling of property short term bridging loan can be used for
• Dream holidays
• Weddings
• Inland revenue
• Cash flow
• Business capital finance
• Land purchase
In case the borrower has bad credit or facing repossession will be accepted in short term bridging loan as opposed to other loan makes short term bridging loan come with high interest rate.
Short term bridging loan is a fast service as the lender accepts self- certification of your income without the need of time consuming verification. Short term bridging loan with the search on internet makes the borrower reach a suitable lender in lesser time.
Short term bridging loan is a loan helping an individual to upgrade in the market place by providing extra cash to invest in other property. The only requirement of short term bridging loan is the individual need to own his property.
Related Tags: bridging loan, commercial bridging loan, residential bridging loan, short term bridging loan
Eva Baldwyn aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. An MSc in Economics & Finance from the Warwick Business School is proof enough of the knowledge that she possesses in the field of finance. To find short term bridging loan,bridging loan, commercial bridging loan, residential bridging loan, personal bridging loan visit http://www.easybridgingloansuk.co.uk/
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