Short-Term Construction Bridge Loans Uses And Reasons

The main features of construction bridge loans - Let us now explore some of the details about this short term lending product. The main consideration is probably the total interest capital payback the main area you should be concerned about though is the reason why you need a construction bridge loan and whether getting one is going to solve your dilemma. You need to compare the costs with the benefits of getting the finance now. We will now look at various scenarios where getting construction finance is the best choice. Some times you may need bridging finance normally are shown below ! Predicament 1 - Venture capital - Many entrepreneurs us this type of credit to take advantage of deals where money is needed now not in a couple of weeks. Because of the speed that these loans can be arranged in they are perfect for this type of application. Predicament 2 - Any legal reason - If you have another use for commercial, domestic or any reason whatsoever then you'll be glad to know that you can use this type of credit for any reason provided that it is legal. Many people don't apply for construction bridge loans because they expect to be rejected, or have already been turned down by their bank or building society. You may be surprised though as we can accept applications from late mortgage payment customers and people with CCJs bankrupty problems and defaults. Now on to the cost to give you an indication lets assume that you need a construction bridging loan of say £150000 at a rate of 1% would cost you £3000 to borrow the sum for 2 months. Many factors such as security offered and a customers risk profile can give a lower or higher rate. Interest rates vary depending on the security offered and your credit file. Visit to find out more information on bridge finance visit Bridge Loans The site uses cookies. They allow us to recognize you and get information about your user experience.By continuing to browse the site, I agree to the use of cookies by the site owner in accordance with Cookie policy