What exactly is a bridging loan and just how quickly am I able to get one?

What exactly is a bridging loan and just how quickly am I able to get one?

Bridging finance provides another choice for purchasers to get funds to acquire a house. Bridging loans are a kind of fast, short-term secured borrowing which provides purchasers the freedom to behave quickly whenever time is vital.

Bridging loans resolve income problems for purchasers since they:

  • Provide up to 70% of loan to value ratio
  • Finance is available inside a faster timescale that a home loan
  • Versatile terms of finance, from 1 to three years
  • Loans from Ј25,000 upwards

Bridging loans will also be appealing because they:

  • Enable interest to be ‘rolled up’ to pay for at the conclusion associated with word to prevent monthly premiums
  • Cost an arrangement that is low that will be typically 2% for the total money lent. (suite…)

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