Judul : What is a Bridging Or Short Term Finance Loan? Do I Need One?
link : What is a Bridging Or Short Term Finance Loan? Do I Need One?
What is a Bridging Or Short Term Finance Loan? Do I Need One?
To begin with we will take a look at what exactly is a bridging or short term loan loan. A bridging loan can be described as a loan that covers the gap between one finance deal and the next. For example, a bridging or short term finance loan is commonly used in situations where 'standard' finance options cannot possibly deliver the finance you need within the required time frames
Bridging or Short term finance loans are commonly used in a number of situations, for example:
You have applied for and been unconditionally approved for finance, however days before settlement your financier advises that they are unable to complete the finance required as promised. In most cases an extension can be arrange, however if you have an uncooperative vendor, they may insist you complete the purchase contract on the required date, or stand losing a considerable deposit placed to secure the property. An opportunity arises to purchase a well priced asset, provided you can come up with the capital in a short space of time. If the time frame required to provide the finance is shorter than two weeks, most 'standard' financiers will be unable to provide the appropriate funds to complete the transaction and the opportunity may go begging - however, a short term or Bridging Finance loan may allow you to seize the opportunity and allow time to refinance under a longer term arrangement.
What is my bridging loan secured against?
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