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- Bridging loans- A short term arrangement
- A secured loan option
- Easy cash with easy repayment tenure
- Easy plan- online approval
- Less conditions- single application form
- Timely cash- safe procedure
“If you want to sale and going to buy new property then you must consider going for bridging loans without giving yourself second thought.”
Bridging loans are short term cash arrangement used to bridge the gap between the sale and purchase of a property. Online Loans brings an easy way to have access to required money in a quick span of time
It so happens that many a times people buy new property with the amount that they would get out of selling of their old property. It undoubtedly leads to profits, but the problem is that the person cannot do the both the things at the same time. Keeping the problems of the property transactions in mind, bridging loans are established in the loan market, to make the funds readily available to borrowers to formulate their property deals in an easy way.
These loans are measured as secured loans mortgaged against the borrower’s ‘to be sold’ or ‘to be bought’ property. It becomes mandatory for the borrower to secure his property against the loan. It is however observed that the majority of the people use their new- purchased property as collateral. The property however could be of any type such as, housing or auction property, commercial property, retail shops, property across the seas etc.
The value or the worth of the property is taken into consideration while lending a bridging loan. The range of amount that can be lent varies from £25,000 to £500,000. The borrower can also avail a higher amount in which case the equity of property is verified. The general observation states that the lenders are willing to provide a loan up till 75% of the property’s value as a bridging loan.
These short term loans are offered for a short span of time that ranges from a few weeks to six months extending the period up to 2 years. In some cases when the bridging loans are developed before the property is sold, the loans will automatically be converted into a general loan without charging any penalty from the borrower!
We understand the importance of your time and thus aim to cater your needs instantly.
Our qualified professionals are here to help you with quick completion of the application process. The loan amount and interest rates depend largely on your needs, value of your property on sale, repayment term and many more. Apply with us by filling our online application form below.
