Short Term Bridging Loans: Cash to Bag Lucrative Property Deals

By: Richard Pasic
Short term bridging loans are secured loans. These loans are taken during any property transactions between buying and selling of a property. It is a short term loan meaning the repayment tenure is relatively small.

These loans are of two types. There are open ended and closed end . If you want a buyer for your current home then an open ended loan is good for you. If you have decided on buying and selling of your property already then a closed ended loan is best for you.

Generally the loan amount is the 65% of the market value of the property which stays with the lender till the loan is repaid. The collateral can be heavy machinery, property or inventory also. The loan amount varies from ?25000 to ?500000. There are some lenders who allow larger amount. It depends on the value of the secured asset. The repaying tenure varies from 2 weeks to 17 months. Here also some lenders considers longer period to repay the loan.

If you are a good credit holder you can easily get a short term bridging loan. But if you are a bad credit holder there is nothing to worry. As you can also avail the loan. However the rate of interest differs with the credit status. There are some lenders who also offer bad credit bridging loans for short term.

If you want the money urgently, online loan market is good. There are many lenders who offer these loans. Researching can get you larger amount with low interest rates. An online form just takes few minutes of your life and transfers the money to your bank account. Bad credit holders can easily get this loan online.

Bridging Loans
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