For Your Instant Needs With Short Term Property Loan

For Your Instant Needs With Short Term Property Loan



For Your Instant Needs With Short Term Property Loan
Many of​ your property deals just end up just because you​ don’t have enough funds when you​ need them .​
a​ thought comes in​ your mind to​ sell the​ property which you​ are having with you​ to​ buy the​ new one from sale proceeds .​
As everybody knows it​ takes lot of​ time to​ sell a​ property .​
It is​ very much possible that till the​ time you​ get the​ money,​ the​ property you​ have chosen is​ taken by some other buyer .​
So what will you​ do now,​ yes you​ can do nothing at​ that time .​
So to​ save yourself from such position you​ can take Short term property loans or​ bridging loans.
This is​ a​ loan that is​ usually taken out to​ solve a​ temporary cash shortfall that may arise when buying a​ property .​
Its like when you​ want to​ buy the​ second property before the​ sale of​ first one .​
These loans are secured by the​ property going to​ be sold as​ collateral .​
Following can be used as​ collateral:
• Residential properties
• Commercial & semi-commercial properties
• Auction properties
• Development sites
• Buy to​ let properties
• Retail shops
• Land with planning permission etc.
Like any other short term loans these loans also comes with a​ higher rate of​ interest.
Lender will allow you​ to​ borrow up to​ 65% of​ the​ property offered .​
But with increasing competition in​ the​ market there are certain lenders which offer you​ even higher percentages of​ the​ value of​ collateral .​
As a​ standard amount you​ can borrow amount between ₤25000 to​ ₤500000 .​
But larger the​ amount,​ more the​ time required for approval .​
However,​ the​ overall time needed is​ much faster than other loans.
Repayment is​ made once you​ get the​ sale proceeds of​ your property .​
You are charged with interest till that date .​
These loans can be repaid in​ a​ period lying within one month to​ 12 months .​
There is​ also an​ option to​ extend the​ repayment term depending upon the​ circumstances .​
Applying for a​ short term property loan is​ not a​ difficult job .​
As internet has become the​ primary source of​ communication these days,​ loan lenders also have their own interactive websites .​
These sites are equipped with tools for comparison of​ different loan quotes,​ loan calculator etc making life easy for you​ .​
You can simply log on​ to​ these websites to​ get benefited .​
The application form requires you​ to​ fill simple details like:
• Name of​ the​ borrower
• Address
• Mobile no.
• Email address
• Value of​ the​ collateral
• Amount you​ are looking for
• And certain small details varying from lender to​ lender
Short term property loans can help you​ get your new property and pay for it​ afterwards .​
So don’t wait for somebody else to​ take what you​ have chosen to​ buy .​
Get a​ short term property loan to​ get the​ property of​ your dreams.




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