Bridge Direct 0
Bridge loans are a short term finance solution that allow a person or company to release capital from an existing asset or property until they can secure a longer term financing option such as a mortgage, or they can raise the needed capital by other means. This type of bridge loan is generally used by property developers who would utilize a bridge loan to allow them to purchase a new property based on equity held in another property. They would then aim to complete all renovation works and sell the property before the end of the bridge loans term. By working this way they can turn around properties without having to rely on mortgages and banks, where it can take weeks or months to secure any kind of funding. With bridge loan lender like Bridge Direct you will get an instant decision on your application and in some cases you could receive the funds on the same day.
People often assume that a bridge loan is only applicable to property purchases, however, a short term bridge loans can be used for any kind of business application, such as paying off large tax bills or freeing capital until customer invoices are settled. In recent years businesses have used a bridge loan to help launch a new product that otherwise may have been shelved or worse be beaten to the release by a competitor.
The interest rates on bridge loans are generally higher when compared with a normal bank loan or mortgage, as these loans are designed as a short term financial option. However, bridge loans give the borrower immediate access to the funds, in turn this can allow the borrower to negotiate a better deal or hold out on a sale against an existing property until a better offer comes along.
The real benefit of a bridge loans is that, unlike a bank loan or mortgage, there is no real fixed ceiling on the amount borrowed, this is only restricted by the amount of capital held in the property being secured against. With a regular bank mortgage the amount you can borrow will be determined by your income.
Due to the many options that are available, it is important that you are confident in the lender who you are using for your bridge loan. When you take out a bridge loan with Bridge Direct you can be assured of speaking directly with the lender and no middle men. The team at Bridge Direct are direct lenders, and not brokers, and have over 30 years of lending experience in bridge loans and the financial sector.
As well as experience Bridge Direct have access to over £12 million in funding, and can give instant decisions and funding for any application between £30k and £500k. Bridge Direct will accept 1st and 2nd charges, have no set criteria and will consider bad or adverse credit.
Each and every bridge loan application Bridge Direct take is assessed on its own individual merit, and using their vast knowledge and experience, they will find the best deal for your situation.
You can get an instant quote from Bridge Direct today, by completing the quick and easy online application form, or by contacting their dedicated team on 020 3126 4969.