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Like any other loans, the bridging loans also have some pros as well as cons, so it totally depends on the user or the person who has applied for it, how he is going to use it. The advantages of this loan can be elaborated as follows.

• The bridging loans are more flexible and reliable than the other loans
• If you have applied for the bridging loans then you will not get any type of closing loans involved with them.
• The fast closing is considered as the biggest advantage of using this loan.

But, the other side of coin shows that it has various disadvantages as well like:

• There is high risk factor involved with this loan and you will come to know about it if you compare it with the others.
• The interest rates associated with them is also high.
• This can be applied only for shorter duration to make the most of them.

The bridging loans are the ones which are used to offer the financial help to the individual in a situation when he needs to buy the property or even at the time of setting up a business. The Bridging Loans offer sufficient amount to a person which can allow him to proceed with the purchase of a new home. The characteristics of such loans can be elaborated as follows:

• The bridging finance, the loan to a value is generally high as compared to other financial schemes. The major reason for this is the risk factor involved with this loan which is on the higher side. Under normal circumstances, it has been calculated that, the

1. For residential properties, the loan to a value will b 70%, and
2. For commercial properties, this value will be around 50%.

1. • The other aspects which must be taken care of while applying for the Bridging finance that the persons under different financial situations can also apply for this bridging finance. It does not matter, whether you are running a business of your own or in partnership with someone else or even if you do not have any source of income.
   • The loan includes the purchase of commercial as well as the residential properties.
   • If you promise to offer equal share in property to the lender if you are unable to pay the amount in a given time period then even 100% of payment can be made by lender only.
   • Like any other loan, you need to apply for this loan as well by filling the application form and then the approval for this will not take more than 24 hours.

There are some other fees also included with this type of loan. They are as follows:

• Administration Fee,
• Title Policy,
• Appraisal Fee,
• Notary Fee,
• Drawing Fee, ad many more

So, make sure that you clarify about all the fees with the lender before you take the amount. Also you should ask for nay hidden charges involved with loan. You should apply for this loan, if you have already planned to buy a new property after selling the old property. However, if you are still planning then wait till you make up your mind. So, all these things must be given proper attention by you.

Linda is the specialized one for Bridging Loan offering company. Here best  Finance Bridging are the one of the major client of mybridgingfinance.co.uk where UK citizens can get their doubts clear.

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