Take Advantage of Bridging Finance to Raise Short Term Capital
A brief article that shows how finance can be raised quickly if you are need of financing a range of different transactions.
If you have a residential or commercial property, then if you require money for a short period of time there’s every chance you can raise the capital you need to push through a certain transaction by securing the money against it. Given the nature of how the money is secured, one’s personal credit rating is not always of relevance, as it would be with other types of finance.
In the majority of cases a bridging loan such as that described above is taken out to bridge the gap between a deal for a property going through. For example, if you are keen to buy a new home but are yet to have sold your existing property, you can take out this type of loan so that you can buy the home now and pay back the loan once the sale of your current home goes through.
Companies can also benefit from such loans, as if they need to raise a significant amount of money quickly and have a substantial freehold building, then there’s every chance bridging finance can be arranged. Other reasons for utilising such loans includes refurbishing or developing properties, and for making purchases at an auction.
You can find a company that provides this type of finance either directly or via a broker, and with any luck you can get a decision the same day you make an application. It is designed so that it can be arranged quickly and is available across the country; whilst the term of a loan can range from just two days to as long as two years.
As you would expect, rates vary from lender to lender, but you should be able to find finance companies that offer rates from around 0.75% per month. Your best chance of finding a reputable company to do business with is by searching online for an experienced broker. Ideally look for those that can provide a personalised, tailored service, as this will give you peace of mind that you’re getting a good deal from an appropriate lender. Be aware that lenders often value brokers, as they supply them with the bulk of their clients; more importantly, they will also save you time and money.
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