May 25, 2018
The concept of bridging loans is making its way in the loan market and borrowers are accepting it at a fast pace. These loans are specifically dedicated to serve the needs of the borrowers, who are investing in the real estate. There are certain constraints you have to follow while availing funds from a mainstream bank. It is not always possible to qualify for the loans. You may have bad credits or you may not have a guarantor to provide, but your plan of buying a new home cannot afford any delay and you need the funds urgently.
This is where you can knock the door of the bridging lenders, who provide funds avoiding some of your weaknesses on credit score and obligation part. You just need to present your current financial status, income proof and collateral that are equal in worth to the amount you want to borrow. In fact, those who are unemployed and have no income proof to present can also avail these loans.
Remember, if you want to avail funds from the bridging lenders, collateral is your key to get an approval. Even sometimes depending on the lender and his policy, guarantor is also not necessary to provide. By applying for the bad credit loans with no guarantor by direct lender, you can borrow money without a co-applicant and despite bad credit.
The bridging finance is not only for home buying, any kind of investment in the property can be funded by using these loans.
Source Link:- https://bit.ly/2saoWZK
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