subject: Bridging Loans- Instant Finance To Bridge Your Financial Gap [print this page] Financial problems can arise anytime in lifeFinancial problems can arise anytime in life. But sometimes certain circumstances make them worse. This mostly happens when you do not have adequate funds to overcome the problem or to satisfy any want. Bridging loans are finances which require collateral to be placed against the loan amount. This credit is therefore secured in nature. It helps you to get instant funds to over come any problem.
This finance can be used to purchase commercial property; land, or any overseas property. People with bad credit history can also apply for this finance.
To apply for this advance, all you need to do is to fill a simple application form with your basic details. The application form is submitted to the lender. He verifies it and sends it for approval. Once the loan is approved the funds are directly transferred in the borrowers checking account.
There are many lenders in the financial market who offer you advances with affordable interest rates. Financial institutions and companies also offer credit at reasonable rates.
The borrower is given credit ranging from 500 to 100,000 and the repayment period is from 1 to 25 years. The repayment period is stretched over a long period of time, so as to facilitate the repayment structure of the borrower.
There are many online lenders who help you to avail such finance conveniently. By comparing the rates online you can get a suitable lender who provides you with better deals.
Advantages of bridging loans:
It covers all the financial gaps of the borrower.
The borrower can avail instant loan approval.
It is readily available to the borrower to satisfy any want.
The borrower is given such finance at affordable interest rates.
Disadvantage:
The only disadvantage would be placement of your property as collateral.
Eligibility criteria:
The borrower must be a citizen of UK.
The borrower must be above 18 years of age.
The borrower should have a stable job.
The borrower must earn at least 1000.
The borrower must have an active bank account.
by: Logan Hardy
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