Bridging loans

Looking for a good property can be a difficult assignment. If you happen to come across the ideal property, it is usually a cause for celebration. The celebration may be short-lived when you discover that getting for the finance might take too long.

With the long financing period looming, you are faced with the choice of letting go of your dream property or settling for another option. You will be relieved to hear that you have a chance of purchasing your ideal property through a bridging loan. This type of loan allows you to make a substantial deposit on the property while you wait for the main long-term financing arrangement to go through. It also gives you the leeway to sell your old home. The loan is usually arranged for a period of between one to three years. Read more

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