In today’s noisy business world, short terms bridging finance has become quite popular both within the property business sector and many are approaching bridging finance without knowing exactly how it works. Short term finance should be deeply and thoroughly analysed before applying for such loaning procedures, let’s analyse why.
What’s Bridging Finance?
Bridging finance, as covered in a couple of previously published blog posts, differs from normal finance, mainly, because of its duration. A bridging finance plan, normally, fluctuates from 1 to 18 months, with the amount being totally repaid at end of such term. Given the relatively short timeframe, bridging finance could be a great option for the property investor who’s looking to expand his/her “property wallet”.
Should I Choose Bridging Finance Instead Of Other Forms Of Finance?
Bridging finance could be a great choice, as said above, for someone who’s looking to expand its property wallet or simply buying a property within a short timeframe. Bridging finance is, in fact, obtainable in eventually a couple of days, as the waiting queues for what concerns approvals are extremely short (14 days maximum).
But wait, there’s more!
The interest rates for bridging finance are generally higher than normal finance and, especially if applied to big properties, they could tangibly raise the total price of the place.
Should I Apply Online?
In today’s financial sector, online applications for finance are definitely safe, especially if done via secured protocols such as HTTPS and Verify. There are many short term bridging finance calculators available online and, in general, even when applying online, there will still be a broker personally dealing with your application.
Bridging finance may seem like a complicated matter but, in reality, it’s pretty simple to understand and to deal with. If you’re looking for commercial bridging loans, or any form of bridging finance, contact us now and one of our brokers will deal with your enquiry.