Each one of us may face financial crisis in our life. I too have faced. I always wanted to own a home with a big beautiful garden. I had been looking for it for a long time and one day I found it. However, there was one problem, I would say a major one, I couldnt find any customer to sell my existing house so that I could finance the purchase of the new house. And I didnt even have enough savings in my bank account to buy a new house. I was really worried; I didnt want to lose that new house at any cost. Thanks to bridging loan, it helped in fulfilling my dream. Let me introduce you to bridging loans and how they can help you in realizing your small dreams.
Bridging Loans or Bridge loans are short term loans offered by lenders to cover the financial gap when buying one property before the existing one is sold. The word bridge indicates that the loan is designed to get you out of a temporary obstacle in times of urgent cash needs.
Bridging loans work as a bridge to fill in the cash gap. The benefit of taking a bridging loan is that they can be arranged usually at short notice and within a few days.
A borrower can be in the form of an individual or...
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