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What are Bridge Loans and how are they useful for property purchases and in commercial business?

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Bridge loans have always generally been associated with property purchases, however, many businesses also benefit from using bridge loans for a wide variety of business applications.

In today’s blog post we will discuss what bridge loans are and how to reap their benefits. We will also look at why they have become solely associated with property purchases and how they can be applied to other aspects of business. 

What are Bridging loans?

Bridge loans are a short-term finance that are taken out as a stop gap between securing funds or a longer term funding solution such as a bank loan or mortgage. As a general rule a bridge loan duration would be between 12 months to 18 months. Bridge loans can also sometimes be referred to as gap financing, as you are ‘bridging the gap’ between funding solutions.

Where are bridge loans useful?

  • During the purchasing of a new property
  • While expanding business services
  • When looking to start a new venture or service
  • Looking to launch a new product or service
  • Pay large tax bills
  • Settle large supplier invoices
  • Ensure cash flow

So, what are the benefits of bridge loans?

  1. By using a bridging loan, property owners can secure new properties without having to sell existing an existing property.
  2. Bridge loans from Bridge Direct do not require a set criteria and no credit checks are necessary. Therefore funds can be received much, much quicker.
  3. Sometimes the ideal property can come onto the market unexpectedly, in this scenario, bridge loans can help you secure this property and not let it fall into the hands of another eager buyer.
  4. Bridge loans or gap finance are a great way to avoid using and being tied into long term bank loans or mortgages. For example on a quick buy-to-sell the borrower can look to buy, renovate and sell the property within the term of the bridge, meaning no long term funding is required.
  5. Bridge loans do not attract the same strict guideline that you will find with other loans, such as mortgages.

How do I apply for a Bridge Direct bridge loan?

It couldn’t be simpler, to get an instant quote go to the www.bridge-direct.com bridging calculator;

 

  1. First, enter how much you are expecting in a loan format.
  2. Then enter the loan duration you want.
  3. Then enter any security type.
  4. Then enter value of the current property being used as security.
  5. Enter the information about any existing loans held against the security property.
  6. Select whether we would have 1st or 2nd charge on the security property.

 

Once entered click the calculate button and you will be called back with an instant decision, at your convenience, by one of our decision makers.

Interest rates on bridge loans:

The interest rates on Bridge loans generally a bit higher when compared with a long term funding solution like a mortgage. These rates are generally the interest rates would ranges from 9% to 12%, however these can fluctuate dependent upon the size of the down payment. So the bigger the down payment, the lower the interest rate.

How Bridge Direct help you:

If you are looking for a Bridge loan for any business application, then call the Bridge Direct team on 020 3126 4969 or by filling in the simple contact form at www.bridge-direct.com. The team at Bridge Direct have over 30 years of lending experience in bridging and the financial sector. There are no set criteria, no credit checks and you may be eligible for a loan, even if you have bad or adverse credit.

Call Bridge Direct for an guaranteed instant decision today.


Tags: Bad Credit Finance, Bridge Finance, Bridge Loans, Short term bridge loans

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