A bridging loan as the name implies is a loan used to "bridge'
the financial gap between monies required for your new property
completion prior to your existing property having been sold.
Bridging loans are short term loans arranged when you need to
purchase a house but are unable to arrange the mortgage for some
reason, such as there is a delay in selling your existing
property. The beauty of bridging loans is that a bridging loan
can be used to cover the financial gap when buying one property
before the existing one is sold A bridging loan can also be used
to raise capital pending the sale of a property.
Bridging loans can be arranged for any sum between £25000 to a
few million pounds and can be borrowed for periods from a week
to up to six months. A bridging loan is similar to a mortgage
where the amount borrowed is secured on your home but the
advantage of a mortgage is that it attracts a much lower
interest rate. While bridging loans are convenient the interest
rates can be very high.
When to get an Auto Refinance Loan
Auto Refinance You have probably heard of auto refinance before. Or simply refinance. The term "refinance" actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. Refinance is often put into...read more
Bad Credit Personal Loan and Bad Credit Loans
Bad credit personal loans are widely available these days. These are personal loans marketed to individuals with a poor credit score or poor credit history. A bad credit personal loan can be obtained through a lender who specializes in bad credit...read more
Mortgage Loans 101: Who or What is Freddie Mac?
Freddie Mac can help you obtain a home mortgage loan.
But while Freddie Mac might sound like a generous uncle, it's
more closely related to Uncle Sam. So what is Freddie Mac, and
how does it help you when buying a home?
Freddie Mac is...read more