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