Advantages of bridging loans
Taking a bridge loan for making property investments or any other purpose is a sound decision in many cases. At Bridging Funding, we are experts at directing prospective individual and business borrowers towards the right kind of loan. If you are new to this type of finance, it is important to know the advantages of it. Why opt for a bridge and not a more traditional bank loan? Read on to get a better idea.
The key advantages of bridge loans are –
- Short term periods – Bridging finance options are all short-term options just to give you an instantaneous financial boost. Hence, the term period can be as less as just a month.
- Fast approval process – Many UK residents find the processes of applying for, and getting a traditional bank loan approved quite slow. A bridge loan only takes 5 days to a week to get approved.
- Minimum bureaucracy involved – The process of applying for a conventional loan has a lot of hurdles, which are generally absent in case of a bridging loan. We offer approvals with minimum bureaucracy.
- 100% purchase price funding – This is one of the key perks of our loan services. We enable our borrowers to fund 100% of their property purchase prices with funds obtained from us.
- Easier to qualify for loans – Many borrowers faced issues with qualifying for traditional loans due to issues with credit scores, proof of income, etc. Bridging loans just require you to possess the accepted forms of security.