Bridging Finance London
Access to all types of short term loans starting from one month.
Bridging Finance London – Tower Bridge Commercial Solutions Ltd
When you take out a bridging loan, a ‘charge’ will be placed on your property. This is a legal agreement that prioritises which lenders will be repaid first should you fail to repay your loan. These loans are great if you need to finance something quickly. They are normally secured on property and designed to give you the time to purchase without the need of having everything already in place.
So if you have not got your Accounts in order to get a traditional loan you can still get the property you want while you get them sorted. Another good use is to buy a property that needs to be renovated to get to mortgage standard.
The market for these loans is now so competitive the charges and interest rates have fallen making them a flexible tool in being able to work for so many clients.
Bridging loans are priced monthly, rather than annually, because people tend to take them out for a short period. You should keep in mind you will need to normally have around 30% deposit although this can vary depending on the circumstances of the case. These types of loans normally have a term of up to 24 months but generally you will be looking to repay as soon as possible.
It is of great benefit if you work with a specialist if you want this type of finance to help you get the most flexible option for you.
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