Short term bridging loans are loans that help you to bridge the financial gap between sale and purchase of your property. These loans provide you with substantial funds at the time of property purchase. Now with the help of short term bridging loans, you can easily buy property without taking much mental stress and pain. Short term bridging loans provide financial aid to those whoever are interested in buying new property and selling the existing one. Short term bridging is a secured loan borrower can pledge either old property or new one as collateral. Due to their short term nature, the interest rates on short term bridging loans are slightly higher. You can advance a good amount as short term bridging loan ranging from ?100,000 to ?400,000 depending upon the value of the collateral placed. The repayment term has to be met in 1-12 months. There are two forms of short term bridging loans available. Open ended and closed ended loans. If you have not yet found a buyer of your old home, then open bridging loan are for you. But in case if you have already finalized the deal of purchasing and selling your property, then you can opt for closed bridging loan. You can base your decision on your financial conditions and prevailing situation. Anyone can apply for short term bridging loans. Facing credit problems? No problem, because borrowers with bad credit like CCJs, IVA, bankruptcy, arrears and defaults can also apply. These loans will surely facilitate your property buying needs. Short term bridging loans might be easily applied from banks, other financial institutions and online as well. Online is the most convenient and fastest way of applying. Thanks to the tough market competition which will help you to entail funds at lower rates easily. Also you can get better terms and conditions as well. A huge financial gap may arise while buying property. It becomes difficult to mend this gap when you dont have sufficient funds. But Short term bridging loans help you fix this problem easily.
Eva Baldwyn -
About the Author:
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 loans, bridging loan visit http://www.easybridgingloansuk.co.uk
Source: http://abridgingfinance.com/bridging-loans/short-term-bridging-loans-2/
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