Giving You The Right Way - Easy Bridging Loans
Below is a MRR and PLR article in category Finance -> subcategory Loans.
Your Guide to Easy Bridging Loans
Overview
Easy bridging loans provide financial support in the form of a loan until you receive the proceeds from selling your property. These loans are accessible to everyone, as credit checks are not required for approval.Understanding Bridging Loans
Purchasing a new property often requires significant investment, and many people need to sell their current property first. However, selling can be time-consuming, and while waiting for proceeds, the new property could be snapped up by someone else. Bridging loans address this issue by offering the necessary funds when you need them most.What Are Bridging Loans?
Bridging loans serve as a financial bridge, filling the gap between when you need money and when your property's sale is finalized. They aren't limited to property purchases; you can use them for various personal and business needs, like buying a car, home improvements, or urgent expenses.How Easy Bridging Loans Work
An easy bridging loan is secured against your existing property, whether it’s residential, commercial, or semi-commercial. This includes auction properties, development sites, buy-to-let properties, retail shops, or land with planning permission.Designed to provide quick access to funds, easy bridging loans can be approved in as little as 48 hours. Loan amounts range from £25,000 to £350,000, with up to 75% of your property's value used as collateral. These short-term loans typically carry higher interest rates and are repayable within 1 to 12 months, with extensions available in certain situations.
Benefits of Easy Bridging Loans
1. Short-Term Funding: Loans are secured against your property's value, not the purchase price.2. Investment Properties: Ideal for those investing in property.
3. Business Expansion: Top choice for development loans.
4. Versatile Clients: Available for clients of brokers.
5. Wide Eligibility: Open to individuals, trusts, and limited companies.
6. Convenient Application: Online applications with minimal paperwork for faster processing.
7. Flexible Repayment: Option to extend repayment terms to suit your needs.
Application Process
To apply for an easy bridging loan, complete an application form with your name, address, contact details, loan amount, property value, and any outstanding mortgage. Once submitted, a lender will contact you.Easy bridging loans are accessible to everyone, including those with IVAs, CCJs, defaults, arrears, or bankruptcies. They offer an ideal platform for fresh financial beginnings.
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