Now is the time more than ever for instant decisions and actions; before you know a lucrative deal might be signed off right under your nose. You might have a brilliant business idea, which can be a huge success or have found a house that's quite the bargain for you.
You need to be quick on your feet to grab the opportunity otherwise someone else will. But to do that you need to overcome hurdles galore, especially those related to finance. Sometimes acquiring loans can take very long and you risk losing a great opportunity in the meanwhile.
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That's when you need to think of Bridging Loans, they are usually interim loans taken till your primary loan comes through. Most people are deterred by the idea that these loans come at an inflated interest rate, which might be true in some cases but long term benefits are enormous.
Commercial Bridging Loans are especially handy when you need a quick acquisition of a real estate, retrieve a property from foreclosure or make the most of a short term opportunity.
When can you choose to opt for Commercial Bridging Finance?
If your tax bills have been stacking up and you need to make payments soon.
If you have incurred heavy losses in your business and run the risk of going bankrupt.
To prevent repossession of your properties. Most people tend to be emotional about their homes and offices, and don't want to let go of them in dire crisis as well. Such loans help you keep your property safe.
Divorce settlements can be an expensive affair and you can use bridging finance to make up for the losses.
If you are purchasing an investment property or an overseas property it can be quite handy to have bridging finance.
For your short term cash flow problems, they are one of the best available solutions to you.
You can take advice from a Commercial Mortgage Broker in your area and evaluate your options. It's always a good strategy to be upfront and honest with him so that he can make an accurate analysis of your situation and provide you with best options.
Some of the benefits of Bridging Loans are:
You can avail of them if there is a delay in your primary loan being sanctioned for whatever reasons.
If you do not have all the necessary paperwork in order for your main loan, you can go for bridging finance in the interim. In most cases you can get away with not having all the accumulated documents.
If you are buying a property but your existing property hasn't been sold yet, these loans are of great help.
They are useful to make purchases at auctions or buying properties for the purpose of letting.
You can benefit from them in raising capitals.
It's rightly called bridging finance because it helps you bridge the gap between what could have been and what can be.
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