If you need funds to buy the real estate you want, why not take out a bridge loan?
What do you know about bridging loans? Are you in need some some money to buy your home? Read the article below to find out why bridging loans can help you out.
Today the times are demanding and exhausting. You desire to buy your dream home, but because of economic crisis, you are unable to do so. Bridging Loans can help make your dream come true.
Continue to read the article and find tips that you can use in making you dream come true with bridging loans. This article will teach you the basics of applying property loans and help you to make a way in letting your dream be a reality. Let your dream expand from just having a home to a dream house that you envision.
These loans offered some great solutions in helping to purchase your own flat or house. The loans offered by them are secured. Secured loans come with low-payment schedules and longer repayment period.
They are cost-effective because of the low-interest rates. With bridging loans, you have to secure your existing home or new home as Collateral. Secured loans are easy to get because of the reduced risk for the lender.
Preferred Rates and Fees
This loans offer you great interest rates for financing property. They are understood as the reputed loan company amongst the thirty UK lenders. Their networking with the other lenders and banks is strong.
They have access to all kinds of updated interest rates in the loans market. The interest rates offered by bridging loans is compared to other banks, and lenders and as per your convenience, they negotiate an appropriate rate with you.
Time Frame
Bridging loans take less than ten days for your application to process and get approved. This is a normal time frame, although in some circumstances or in an emergency the situation can be different. The money can be made available to you also within 24 hours of time frame. It depends on your need of the hour.
There is a fast completion procedure which is another alternative for the money to reach you within few hours of your application. Let the agent of bridging loans be aware of your situation and possibilities of getting fast approval.
Loan Amounts
These loans offer you between £15,000- £15,000,000. They also have access to Hedge funds that go above £15 million. The loan amount varies as per your Collateral agreement. It also depends on the property you are going to use as a security for the loan. Bridging loans accept commercial property, leasehold property, residential freehold and land in the United Kingdom.
Purchase Price
You are allowed to borrow hundred percent of the purchase price. This is a condition only if you have other properties or additional property as security. The second option is when you buy a property that is below the market value then there is a chance for you to borrow hundred percent without any added security.
You are close to your dream coming true, if you have already made your decision. This article has surely cleared your existing doubts on buying a new home. You are perhaps thinking about getting started with bridging loans. Be assured that they are the only loan company in the U.K which will help you to get the home you need.
Oliver Smith is presently working with Best Bridging Loans as a financial suggestions. For more information click on bridging loans, bridging finance, bridging loans UK, bridging finance loans.