Buying a larger house or shifting from one house to another it is always a challenge. This involves a lot of money which can be only be acquired if you apply for a bridging loan. The financial gap between buying a new property and selling the existing one can be bridged by a fund. Bridging finance is designed to help people in cases where they require immediate money. This short-term loan can be paid within one month to twelve months, and it is handy for those individuals who are in a quick search of money.
Getting a bridging loan for moving house sounds positive, but it has certain loopholes. Borrowers try to sell their existing land or property as fast as they can to pay off the loan amount. Failing to sell your house will increase the payment period. With a higher rate of interest, bridging loans can become issues that linger on until you get capital from other sources. It is suggested that you must seek guidance from reliable lenders before settling for a deal.
Perks of Our Bridging Loans for Moving House
At Bridging Funding, you will be properly directed by our team of experts who hold profound knowledge of property development, moving house and refurbishment loan. Our loan size varies from £150,000 to £10,000,000 with 0.65% interest rates. We offer security on residential, commercial, land and semi-commercial property and lend up to 100% of the property price.