Meet The Urgency Of Money Through Short Term Bridging Loans
You have planned to move your residence. Your eyes are all set on a house that you have always dreamt of. You do not have enough funds to purchase your dream house. To engender funds you want to sell your old house. But its buyer will take time. What to do now? Opt for short term bridging loans and grab an opportunity to get instant finance to purchase your new house.
Short term bridging loans help you cater to the urgent requirement of money by providing cash instantly. They are secured against property- residential or commercial, freehold or leasehold.
As the name suggests short term bridging loans are taken over a short period of time. Say the duration of a week to six weeks or a maximum of 2 years. During this period the borrower purchases the new property with the loan amount and repays to the loan provider once the old property has been sold out.
Short term bridging loans do not require the borrower to pay any installments to the lender. He has to pay only the interest during the tenure of the loan. The borrower returns the principal amount to the lender after selling the old...
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