There’s a lot more to loans than just the usual secured or unsecured loans that you mostly see advertised that offer a wide choice of loan types from their website all of which have many different benefits from each other.
The benefits of bridging loans are in their flexibility to homeowners who need large amounts of money at a low interest rate for a short period of time, from say only one month right up to 12 months.
Bridging loans are useful not only for their traditional use of enabling you to complete the purchase of a new home before your current one’s sale has been completed. They can also be used in situations where you have inheritance tax bills than need to be paid but you are waiting on the transfer of a property into your name or waiting for its sale to complete. A bridging loan can give you the cash to allow you to complete a property development and you won’t have to wait ages for it, nor pay a penalty when you pay it off. Another great use for a bridging loan is when you are buying a property at an auction and need the cash faster than a mortgage lender can arrange one.
All these benefits and more can be found easily online, as well as the more popular Secured Loans, so take a look at their site for more details.
Make Money Blog