Short Term Bridging Loans
Posted on October 22nd, 2011 in All, Information. A very fast transaction to complete if you need funds faster than a mortgage or other secured homeowner lending is a short-term bridging loan. One of the most popular uses of this kind of credit is when you need to buy a new house or commercial building before you have managed to sell your existing one. In this kind of situation the finance will bridge the gap until you have sold your other commercial property or home.Short term bridging loans are a very flexible type of finance in that you can expect to get your fund in as little as 2 days from applying, because the finance is secured on property or assets a persons credit file doesn’t put lending companies off even if you have a bad credit history such as CCJs default or other arrears you can still apply. Lenders look more at the property been given as security than these matters.
The features on offer are that short term bridging loans are available from rates of 0.75% a month. Amounts of credit can range between £25,500 – £10,000,000. Loans terms vary between 1 month to 36 months. 100% LTV available.