Bridging finance is short-term time loan and it can be used by a borrower at the time of buying a new asset or making use of commercial business requirements. Over the years, it helped most of the citizens of the UK while buying a new property without selling the old property. The Bridging Loan will offer the funding up to 80% value of equity held on the existing property.
Below are the advantages of Bridging finance:
Poor Credit History Don’t Worry
Most of the banks will not process any loan request when the borrower has any poor credit history and bad rating previously. But as an experienced lender like Bridge Direct will process any loan request on the same day, even when the borrower has a poor credit history also previously. The team of the Bridge Direct is direct lenders and they will analyze requirement completely and offers an instant decision. They don’t care about when the borrower has any poor credit history previously.
Repayment Options are flexible and simple
The repayment options of Bridge finance are simple and flexible when comparing to bank mortgages. With the conventional finance, you will be expected to show the bank that your income or salary will be sufficient to pay back your bank loan amount.
Simple to Finance
The moment if you are ready to buy your favorite property and worrying about the old property sale. Then here the gap finance plays a very important role. The Bridging finance acts as a bridge between the property which you were dreaming to purchase and your already existing assets. It acts as the financing for the down payment to buy a new property, simply borrowing capital on the existing home.
We can use them for Commercial Business Requirements also
Even after receiving much popularity also, even today also most of the commercial business owners are in assumption that, bridge finance can be used only for property development requirements also. But the truth is that the finance can be used for commercial development requirements only, such as paying large invoices and even to start a new business venture in the current competition.
Bridge Loans Saves a Time Lot
The availability of the Bridging finance is simple when compared to conventional loans, and it saves a lot of your time. Simply by using this finance, we can complete the new house purchasing process also quickly. At Bridge Direct the lender will take an instant decision on your request and in a less time, they release the funds in a less time.
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