What are you going to do, if you are planning to buy a new property, but do not have the finance. Further, you are not in a mood to leave this grand opportunity go by. Besides, it is also not possible to arrange the funds within a short span of time. This is where you can consider availing low rate bridging loan. Through this loan, you can derive the funds, which will then enable you to fill in the cash gap that occurs while purchasing a new property and selling the existing one.
A low rate bridging loan is secured in nature, where in you have to provide the newly acquired property as collateral. As per the need and requirement, you are free to borrow any amount in the range of ?100,000-?400,000. The reimbursement term for the loan is not large, but falls in between few months to one year. Even though, the loan is made available for a short term period, the interest rate charged is quite reasonable. Further, you should know that this is an interest only loan, which means that you have to pay only the installments during the repayment period. So, it is an added advantage for you. The borrowed amount can be repaid once you have sold your existing property.
Moreover, you can source this loan in two forms i.e. close end bridging loan and open end bridging loan. Close end option of the loan is meant for those who have sold their exiting property but are yet to receive the payment. On the other hand, open end option of the bridging loan is meant for those who are yet to sell their existing property.
Low rate bridging loan thus is a worry free financial option, which provides financial aid, so that you can purchase the much desired property without any hassles. However, before availing the loan, you need to undertake a proper research of the market. By doing so, you will be able to access the best deal out of this loan.
Eva Baldwyan aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. An MSc in Economics & Finance from the Warwick Business School is proof enough of the knowledge that she possesses in the field of finance. To find low rate bridging loans, commercial bridging loan, residential bridging loan, personal bridging loan visit http://www.easybridgingloansuk.co.uk
Source: http://loan.learntrend.net/commercial/low-rate-bridging-loan-less-burdensome-financial-assistance/
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