Home bridging loans

A home bridging loan is suitable in the following situations:

- If you are buying your own home, but discover that your bank or other financier can't complete on time.

- If you have to buy a new home before you manage to sell your previous home.

- If you have completed the sale but are experiencing difficulties or delays in moving home.

- A very common time when you might need a home bridging loan is when a house-buying chain breaks down.

- If you have bought property in an auction it might prove difficult to arrange a mortgage at short notice. In such an instance, you will certainly need a home bridging loan.

- A company trying to release equity from its premises to meet an immediate cash shortfall should consider a home bridging loan as a short-term solution.

Bridging loans are a very useful, and little known, form of finance. Basically, you can borrow a sum of money, secured against your property, for a short period of time. Bridging loans are a very useful option if you need cash for a short period of time, until you’re able to get the cash another way.

For example: Inheritance tax - you need to pay the tax before the property can be transferred into your name. Property development - you need cash to finish a project but don’t want to wait weeks to get it, and don’t want high penalties when you pay it off. Buying at auction - you need cash quickly, and a mortgage will take several weeks to arrange. Whether you want to raise cash to pay off expensive credit cards, for home improvements or for almost any other purpose, Netloans can offer a bridging loan tailored to suit your exact needs.

Bridging loans are quick to arrange, often a matter of days. There are various options available, including loans where you make no monthly payments, just paying all the interest when you repay the loan.

A secured loan can be used for almost any purpose: to pay off expensive credit cards and reduce your monthly repayments; for home improvements; even for a new car, a wedding or a holiday. Secured loans are secured on your property. This means that the lender is taking less of a risk in lending you the money. For this reason the rates are lower than for unsecured loans. Also secured loans are available to people who may not be eligible for an unsecured loan- for example, those with bad credit, or who can't prove their income, or whose income comes from benefits or pensions. Larger secured loans are also available, depending on how much equity you have in your property.

Your home is at risk if you don't keep up the repayments. For this reason Net Loans will make sure you can afford the repayments. We also offer a range of insurance to cover your payments if you are unable to work through accident, sickness or unemployment.

Apply now for a secured loan. Leading Secured Loan Brokers for Homeowners in the UK!

Home bridging loans


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