| Financial preparation is a must in doing any thing. It | | | | the money repaid. Due to the short repayment |
| is even more important in buying a new property. | | | | duration, this loan has comparatively high interest |
| Lack of finances at the right time can lead to | | | | rates. As it is an interest only loan, only the |
| frustration because of the fear of missing an | | | | interest has to be paid during the repayment |
| attractive opportunity. Quick bridging loan is a | | | | period. The principal can be paid back at the end |
| viable way for tackling such deficiencies in | | | | of the repayment period. |
| finances. | | | | Borrowers can find this loan in two versions - |
| Quick Bridging Loan usually fills the cash gap that | | | | open end and close end bridging loans. Open end is |
| arises while purchasing a new property and selling | | | | for borrowers who are yet to sell their existing |
| the existing one. This loan can be used for | | | | property and close end is for borrowers who |
| purchasing commercial, semi commercial and | | | | have sold their property and have not received |
| residential properties and are provided by banks, | | | | the cash yet. |
| financial institutions and private lenders. | | | | Quick bridging loan can also be availed by bad |
| This loan is a short term loan, provided to seal a | | | | credit borrowers. There are specialized lenders |
| property deal and is secured against the existing | | | | available in the market, who deal with borrowers |
| property of the borrower. The value of the | | | | having arrears, defaults, late payments, |
| collateral determines the amount of loan | | | | bankruptcy, CCJs and IVAs and offer them |
| approved. A high equity property can fetch a | | | | affordable interest rates. |
| bigger amount which in turn will help in procuring a | | | | This loan is also available online. By applying online, |
| new property easily. | | | | borrowers get the opportunity to get quotes |
| Quick bridging loan has very short repayment | | | | from different lenders and compare them to |
| term ranging from one month to one year during | | | | choose a deal suitable to their needs and |
| which the property deal has to be concluded and | | | | requirements. |