Tag Archives: facility
Bridging Loans – How Quickly Could I Get One?
First of all, let’s just take a quick look at exactly what a bridging loan actually is. It’s a nightmare scenario. You’ve spotted the perfect new home. Right number of rooms. Good size, well looked after, not too far from work and with a great garden for the kids. The only fly in the ointment is that you’ve not managed to sell your own property yet.
That’s the end of that then, right? Well actually, not necessarily. Enter the bridging loan. As the name suggests, it’s a short term loan facility that provides a ‘bridge’ between one loan and another. In this case, the loan would allow you to go ahead and make the purchase of the second property. The facility would only need to be short term, typically between 4 and 12 months.
There are of course, quite a few other reasons why you could consider a bridging loan:
– you may be considering making a purchase of a property from an auction, in which case you need to raise the funds very quickly.
– you could be thinking about purchasing land or even, as all the property programmes on television are concentrating on at the moment, a property abroad.
– refurbishing an investment property with the intention of selling it on in a very short space of time.
– raising money to pay a tax bill
– covering temporary cashflow problems
– taking off on an impromptu luxury holiday
– your daughter’s getting married. She wants all the trimmings and you have to do your parental duty and cover the expense!
As the property merry-go-round has been spinning at full tilt in recent times, many people have found themselves in a situation such as described above and as a result, the volumes of bridging loans have increased accordingly. Lenders have provided more choice and options and have often been innovative in their approach to help their customers.
Clearly, the key principle of a bridging loan is providing the cash very quickly to the customer who, probably more than any other type of borrower, needs the cash immediately. The whole process is very often streamlined and simple in real terms. There are many online brokers that you could make an enquiry to and having done so, they will probably be in touch with you on the phone in a matter of only a few minutes and you could have a decision in principle within an hour or so.
As part of the application, the broker, on behalf of the lender, may ask you to supply some or all of the following supplementary documentation:
– proof of residency
– proof of income
– proof of ID
– buildings insurance certificate, and
– an independent valuation figure
Once received, the loan could be completed in somewhere between 2-10 days. Wow! Now that is fast! So if you need to raise finance quickly, you now know what to do.
Urgent loans: Derive instant funds without much hassle
Have been looking out for an external financial aid to fulfill your numerous personal and professional needs? If yes, urgent loans provide you instant cash relief and enable you to fulfill your needs at right time. Searching a perfect lender can be initially difficult but with competitive research, you can surely avail a quick loan deal on affordable price. Even, there is no restriction over the usage of loan amount.
The prime feature of urgent loans is its approval and applying process. Now you do not require to standing in long queues as it can be completed online. You can access at any time as per your place comfort. Only an easy e-form has to be filled with general details and submit it on lenders site for further process. Within least span of time youll get your funds directly in your bank account.
With assist of this cash facility borrowers can easily fulfill their requirements on time. It may include like debt consolidation, vehicle purchase, home renovation, holiday trip, credit card payments, grocery expenses etc. Apart from this, this loan come with a wide variety of advantages hence anyone can simply enjoy the benefits of this loan service on simple terms.
Through, this small term purpose loan anyone can simply avail the desired amount in the ranges of £100 to £1500, depending upon their requirements and financial status. Basically, this cash facility can be approved against your upcoming paycheque thus youll allot the time duration of 14-31 days. Repay the amount within this duration otherwise delaying cause penalty charges.
To secure the funds through need loans today, you do not need to pledge any sort of collateral against the amount. It is a risk free option for the borrowers. But, risky for the lenders hence hell impose you with high rate of interest which you can negotiate by making proper online research.
All bad credit borrowers are ok! This is because it is free from tedious credit check, faxing, paperwork and other formalities. When you need instant funds remember this deal is available to you.