subject: Bridging Loans-helps You In Efficient Property Dealings [print this page] Are you in need of money to purchase property? Bridging loans can be the best choice for such circumstances. Within a short period of time you can avail good cash. Bridging loans can be secured in nature. It can be valid to bad credit people also.
Those individuals who are buying new property and selling their existing one, bridging loans are a great help for those in need of finance .Since it is secured, the borrower is suppose to place his property, however, it may be the old one or the new one to place as security.
With bridging loans you can avail a good amount of cash ranging from 500-100000 and the time period offered will be for 1 to 25 years. It is very useful for those who want to purchase their new property but have difficulties because of their old property.
There are two types of bridging loans applicable, that is closed bridging loans and open bridging loans.
For opening bridging loans, if you are still looking for a buyer for your old home then open bridging loans can be a good option.
Similarly, if you have already financed the terms and conditions for both, selling and purchasing of your home then, closed bridging will be the suitable option.
It can also be available to all kinds of debts and defaults, CCJs, late payment, IVA, payment overdue, insolvency, arrears, bankruptcy, foreclosures and so on.
The following kind of people can be eligible for these finances. An individual should prove that he/she are a citizen of UK.They should complete 18 years of age and should have a valid bank account. He should posses a well employed status .The lender checks the employment status of the borrower.
You can easily apply for this online. This process is faster as it is not time consuming. You need not worry, within 24 hours the funds will be transferred to your account. Online method requires less paperwork and hence, the loan approval process becomes even faster.
by: Kelly meliss
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