Benefits of a Bridging Loan

A bridging loan has many benefits, some of which are listed below.

A bridging loan can be used to cover the financial gap when buying one property before the existing one is sold. They are looked on as short term lending to cover a specific short term need.

A bridging loan as the name implies is a loan used to "bridge" the financial gap between monies required for your new property completion prior to your existing property having been sold.

Bridging loans are short term loans arranged when you need to purchase a house but are unable to arrange the mortgage for some reason, such as there is a delay in selling your existing property.

A bridging loan can also be used to raise capital pending the sale of a property.

Bridging loans can be arranged for any sum between £25000 to a few million pounds and can be borrowed for periods from a week to up to six months

Because of the nature of bridging loans they can usually be arranged at short notice and within a few days.

A bridging loan is similar to a mortgage where the amount borrowed is secured on your home but the advantage of a mortgage is that it attracts a much lower interest rate. While bridging loans are convenient the interest rates can be very high.

When considering a bridging loan please remember that you may be paying not only for the bridging loan but also for the mortgage on your existing property.

Bridging loans are widely available and can usually be arranged by your existing mortgage provider.

Although bridging loans are convenient, you need to consider the pitfalls too, like the high interest rates.

You may freely reprint this article provided the author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

---

Wedding Loans Because Wedding May Be Made In Heaven But They Are Certainly Not Made For Free

Wedding loans because wedding may be made in heaven but... Read More

How To Reduce Your Payments

Are you paying out too much every month for your... Read More

Are You In The Market For a Car Loan?

Car loans are a tempting way to purchase a new... Read More

Why Choose a Secured Personal Loan?

Listed below are some of the many reasons why you... Read More

A Brief Look at Homeowner Loans

Homeowner loans are useful ways to get the things that... Read More

Military Loan and Military Loans

Military loans are made available to active servicemen and retirees... Read More

How to Find a Good UK Secured Homeowner Loan

If you're looking for a UK secured homeowner loan, you... Read More

Understanding Personal Loans, Cash Advances and Payday Loans

Have you ever been short on cash? Has an unforeseen... Read More

Why Payday Loans Should Be Avoided

If you are considering getting a payday loan for the... Read More

Overnight Cash Can Be Yours

It's possible to receive up to 500 dollars cash overnight... Read More

PayDay & Cash Advance Loans Online ? How Do Online Payday Loans Work?

How online payday loans or cash advance loans work? Online... Read More

Secured Loans Tips

Here are some useful secured loans tips. Secured loans enable... Read More

Car Loans After Bankruptcy - Tips to Getting Approved

A car loans after a bankruptcy is one way to... Read More

The Basics of Finding a Loan for People with Bad Credit

If you've ever tried finding a loan for people with... Read More

A Look at Getting a Bad Credit Personal Loan

Trying to get a bad credit personal loan can be... Read More

PayDay Cash Advance Loans - The Benefits of Using the Payment Protection Plan

Payment protection plans are offered by payday companies to protect... Read More

Relax, Unwind, and Enjoy With American One Secured Personal Loans

Secured Personal Loans are those loans against which you don't... Read More

Bad, Credit, Student, Loans - Disjointed They Don?t Make Sense - Join Them and See the Possibilities

The day you stop learning is the day when you... Read More

A Guide to Common Loan Terms

Many people may wonder about common loan terms? words and... Read More

Benefits of a Home Improvement Loan

Some of the many benefits of a Home Improvement Loan... Read More

A Guide to Finding Fast Homeowner Loans

Sometimes finding fast homeowner loans can seem impossible? no matter... Read More

Instant Car Loan - Get an Approval Online Quick

Your car loan is now less than an hour away... Read More

Where to Look for a Cheap Personal Loan

Looking for a cheap personal loan can sometimes be a... Read More

What Is A Second Mortgage?

A second mortgage is a loan that is secured by... Read More

Bad Credit Personal Loan - A Pay Day Loan May Be Your Best Option, No Credit Check

If you have bad credit, have an emergency and need... Read More

What is a Student Loan?

Not everyone is aware of what is a student loan?... Read More

Cash Advance Company - Comparing Payday Loan Companies Online

Comparing payday loan companies online saves you time and money.... Read More

Cosmetic Surgery Loans ? Discovering How It Feels to Look Your Best

Market research of UK's cosmetic surgery ascertains the fact that... Read More

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Online car loan shopping practically guarantees that you are getting... Read More

Car Loans After Bankruptcy - How Poor Credit or a Recent Bankruptcy Can Affect Your Loan Approval

If you have poor credit or a recent bankruptcy, you... Read More

If You?re Looking To Borrow Larger Sums of Cash a Home Equity Loan Could Prove Ideal

There are a number of different loan products available today,... Read More

Payday Loans - Bridging The Void Between Paychecks

Emergency - the word is written everywhere in red and... Read More

The Truth In Lending Act

With a stated objective to help consumers, Congress deemed it... Read More