What exactly is a bridging loan and just how quickly may I get one?
Bridging finance provides another choice for purchasers to get funds to shop for a house. Bridging loans are a kind of fast, temporary secured borrowing which provides purchasers the freedom to do something quickly whenever time is vital.
Bridging loans resolve cash flow dilemmas for purchasers since they:
Offer up to 70% of loan to value ratio
Finance is available inside a faster timescale that home financing
Versatile terms of finance, from 1 to three years
Loans from Ј25,000 upwards
Bridging loans may also be attractive because they:
Allow interest to be ‘rolled up’ to pay by the end associated with the word to avoid payments that are monthly
Fee an arrangement that is low that will be typically 2% associated with total capital lent.