Simultaneously, buying a new property and selling the old one is not possible for everyone. In such cases, bridging loans are used as a link to plug up the short time monetary void. Bridging loan is a sort of secured loans that is provided borrowers at the time of property transaction. Not only for buying housing or auction property, but bridging loans are also available for commercial purposes.
As the name suggest, the main purpose of commercial bridging loans is to assist borrowers at the time of commercial property purchasing. The purposes that can be performed with a commercial bridging loan are as follows:
Purchasing new office, factory or other business premise.
With commercial bridging loans, a borrower can buy machines or some other necessary goods.
A businessman, whose selling is going through credit, can use a commercial bridging loan as his business resource as well.
However, the borrower must be aware of the common features of commercial bridging loans. These features are mentioned below:
As it is mentioned before that these loans are a sort of secured loans thus it is mandatory to pledge a property as security against...
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