Bridge Direct 0
Bridging loans are becoming more and more popular and this rise is set to continue.
Based on the recent information of the Association of Short Term Lenders, in the first quarter of 2017 value applications for bridge loans has increased by 13.9% when compared with the first quarter of 2016.
Business owners and property developers across the UK will make use of Bridge loans when looking to fill a temporary financial gap. Generally, these types of loans are used for property purchases, however, bridge loans are not restricted to this and can be used for any type of business application.
By using a bridge loan many business owners and property developers can overcome their temporary financial gaps until they secure a longer term bank loan or mortgage. Whilst interest rates on bridge loan are generally higher when compared to a general bank loan or mortgage, they come with additional benefits, such as no credit checks and set criteria. This means that even if you have bad or adverse credit you could be suitable for a bridge loan.
Bridge loans are widely used during property transactions, by releasing capital held in an existing asset it allows the new property to be purchased without having to or relying on selling an existing property. By using a bridge loan borrowers can safely secure the new property until their existing property sells at a better rate or until they secure a longer term source of funds, such as a bank loan or mortgage.
Today, many property owners will using bridging loans quickly ‘flip’ properties, bypassing the need for long term finance completely. By using a bridge loan they can buy the new property, complete all refurbishment works and sell the property making a healthy profit along the way.
Below are just a few places where bridge loans can be used to fulfill a temporary financial gap;
Most people will generally assume that bridge loans are solely used property transactions, however bridge loans can be applied to any kind of business application. Many businesses will often use bridge loans to maintain cash flow and help take their business to the next level. Below are just a few of the advantages Bridge loans can offer:
ü Simple and fast to arrange
ü Flexible repayment options
ü Any kind of property can be used as a security
ü No set criteria
ü No credit checks
If your business is planning to look into the feasibility or opportunities of a bridge loan, for any commercial and residential requirement, then contact the team at Bridge Direct for an instant decision on all bridge loan applications. Bride Direct will offer;
Contact Bridge Direct today by calling 020 3126 4969 or completing the online application form at www.bridge-direct.com
Bridge Direct are direct lenders, and are not brokers, therefore you are talking directly with decision makers and they have direct access to over £12 million of funding and will give an instant decision on bridging loan request.
No matter your situation, Bridge Direct may have a bridge loan deal for you!