Article: Why Choose A Bridging Loan?
|
|
|
|
|
Why Choose A Bridging Loan?
Listed below are some of the reasons for choosing a bridging loan. A bridging loan is a short term mortgage which is secured by your property. This is usually arranged by getting a mortgage on the new property, and taking out a second mortgage on the property being sold.
In effect, this type of lending is a kind of mortgage. It is secured on your home, but without the low interest rates usually associated with a mortgage. You must be aware of the risks associated with this. If you fail to sell your existing home, there is a chance you'll have to sell your new home just to pay off the lending.
Probably the most common use of a bridging loan would be connected to buying a property. A bridging loan gives you an agreed amount to help you bridge the gap between s...
|
|
|
|
|
|
|
Home
|
Back To Articles Directory
|
|
|
Send your comments, Suggestions or
Queries regarding this site at roseindia_net@yahoo.com.
|
|
Copyright © 2006. All rights
reserved.
|
|