Bridge Direct 0
A Bridge loan is a short term finance option that can be used by a company or a person for a short time period until a more permanent financing option like a bank loan or mortgage is approved.
Borrowers would generally use this type of finance option when looking to complete quickly on a property purchase that is stuck in a chain. As bridges loans are a short term finance, their loan period is usually between 6 and 12 months, however this will differ from lender to lender.
The interest on a bridge loan is more often a little higher than a regular high street bank loan or mortgage. However, these type of loans do not tie the borrower in for a long period of time and will not as a rule of thumb, incur any fees for early settlement.
For example, let’s assume that whilst travelling to work you pass by and see that your dream property has just come up for sale, but, due to current circumstances you don’t have enough money available to buy nor have you the time to secure a new bank loan or mortgage.
By utilizing a bridge loan you could free up the collateral you hold in an existing property to secure, or even complete on this dream property, without having to sell anything. This gives you enough time to look for the right mortgage and buyer for you existing property, without worrying about losing the new one.
Many businesses will have a vision or product that they want to constantly strive to develop to stay ahead of competitors and deliver the service their customers require. However, lack of available funding can often cause projects to overrun, be cancelled or not even take off.
In this situation it is becoming increasingly common for business owners to choose a bridge loan to overcome these situation. By freeing up funding in the short term they can begin development, inject additional funding and speedup projects quickly and easily. All whilst not having to worry about being tied into a long term loan commitment or requiring regular monthly repayments.
Bridge loans or bridge finance has a much faster approval process when compared to traditional bank loans or mortgages. As bridge loans are secured loans, they do not require the in depth credit checks and due diligence you have to complete when applying for a mortgage.
Bridge Direct offer a guaranteed instant decision on all their bridge loan applications. In some cases it is also possible to receive the funds on the same day. Bridge direct have no set criteria, accept 1st and 2nd charges and you may even be approved if you have bad or adverse credit. No matter your situation Bridge Direct may have a bridge loan deal for you!
The Bridge Direct team are direct lenders and not brokers and have over 30 years of lending experience in bridge loans and the financial industry. When you speak to the team at Bridge Direct you are speaking with the decision makers and there are no middle men, this is why they can offer a guaranteed instant decision on all bridge loan applications.
So, for instant bad credit finance you can reach the Bridge Direct team now by calling them on 020 3126 4969 or by filling the simple application form at http://www.bridge-direct.com.