Bridging finance provides another choice for purchasers to get funds to get a residential property. Bridging loans are a kind of fast, short-term secured borrowing which provides purchasers the freedom to behave quickly whenever time is paramount.
Bridging loans resolve cash flow issues for buyers simply because they:
- Provide up to 70% of loan to value ratio
- Finance is obtainable within a faster timescale that home financing
- Versatile terms of finance, from 1 to 3 years
- Loans from Ј25,000 upwards
Bridging loans will also be appealing because they:
- Enable interest to be ‘rolled up’ to pay for at the conclusion regarding the definition of in order to avoid monthly obligations
- Cost a decreased arrangement cost which can be typically 2% for the total money lent. (suite…)