How to find the Best Bridging Finance and Bridging Loans?
When you find yourself needing finance whilst waiting for a property to sell, it is likely you need Bridging Finance.
This style of finance, “Bridges” the gap in the short term by providing you with a loan and allows you to get on with what your doing while your property is on the market.
What are the benefits of bridging finance and loans?
- You can access the equity in your home;
- They usually can be settled extremely quickly;
- They are a short term finance product;
- There are usually minimal requirements to get a bridging loan (for this style of finance you need equity in your property and a good exit strategy. The exit strategy is typically sale of one of your properties).
- No waiting around for banks.
You can see bridging finance can be an extremely beneficial loan product. Both businesses and individuals can benefit from these loans.
The finance is secured over your property by either a first mortgage, second mortgage or a caveat. Bridging lenders will sometimes lend up to 65% to 75% of the security value allowing you to release this equity in your property.
Considering this type of finance is short term, it usually caries a monthly interest rate which can range from 1.5% to 3% per month.
Who provides bridging loans?
Banks are too slow. When you need bridging finance you don’t have time to wait. This is why private lending companies occupy the bridging market. They can provide same day decisions and the money to your account in days.
Easy Settle Finance has a great track record in the bridging finance industry and has assisted many satisfied customers. Call us now on 1300 730 267 to discuss your Financing today. Or complete our Quick Enquiry form and we’ll call you back shortly.