Bridging Loans – Helping You Complete That Deal

You have found your dream home, you know without a doubt that you have to have it, but as everyone knows to buy a new home you need money. Most people will put their home up for sale to fund the purchase, but they don’t always coincide with each other. A bridging loan will help you raise the money for a new home.

The main factor of a bridging loan is the collateral, this is usually the home you are selling or the one you are buying. Most companies will lend you between £25,000 and £500,000. The repayment time is usually between 1 week and 2 years. The interest rates a higher with a bridging loan and you will be required to pay the interest monthly, and then pay the loan off in one lump sum. Its best to talk to various lenders to try and negotiate a good rate in terms of interest.

This entry was posted on Friday, June 15th, 2012 at 4:13 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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