Where do I ask for a bridging loan?
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chuck
Apprentice
Joined: 19 Jan 2008
Posts: 3
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 Posted: 04/19/09 - 08:40 Post subject: |
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| I have recently been looking to buy a property. I was thinking of buying a house. However, there are some problems regarding my budget since I still have not sold my previous property and I need that money for buying a house. It seems to me I will need a bridging loan. I would like to know where do I ask for something like that. Any kind of help would be very useful. Thanks in advance. |
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mylo
Apprentice
Joined: 15 Jun 2006
Posts: 3
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| Posted: 05/18/09 - 22:21 Post subject: |
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Bridging loans are known for their very high interest rate (around 15%), and very short period of duration (no more than 4 years). That means, that the amount of money you have to return in short period of time is really large. However, if you expect to sell your property soon, and for a greater price than you will buy your next one, bridging loan could be a really good solution. You can ask for a bridging loan from any lender. I suggest you go to http://www.thisismoney.co.uk/bridging-loans. Also, going to http://www.findbridgingloans.co.uk/
commercial_bridging_loans.html will definitely be very helpful. |
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