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Below
is a synopsis of what a bridging loan is & how you can use one.
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Bridging loans are used
and needed in many circumstances, such as buying another property before
selling your existing property, or getting a property you have bought to
a higher standard (so you can either apply for a long-term mortgage from
a high street lender or simply sell the improved property at a profit and
pay off the bridging loan).
Bridging loans can be used in an auction situation where you could have a bridging facility approved so a bid on a property can be made with confidence. Bridging loans can be provided for:Loan Terms are normally 2 to 6 months although variations on these standard terms can be negotiated, if need be. Loan amounts from £25,500 up to £500,000 can normally be agreed; larger loans may made available but are normally slightly longer to arrange. So... Why not apply
right now!
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Sound Financial Advice.
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