A bridging loan is an option, as it will allow them to borrow money to pay the mortgage on their new home while they continue to try to sell their current property. It is usually called a bridging loan the United Kingdom, also known as a “caveat loan,” and also known in some applications as a swing loan. Many feel it as insecure as, if you don’t pay your repayments on time you may lose the property for which you have applied the loan for. But, the following points will prove how secure Finanta is.
Main features of bridging loan that makes you feel it is secure are:
- Out of the various types of regulating short-term funding, bridging loan is the best as it is the most convenient one.
- The bridging loan can be used for various purposes. They offer you bridging loan for both commercial and residential purposes. For example, bridging loan can be used for purchasing something in an auction, investing on a property, capital investment etc.
- The first thing that comes to the mind borrower after taking the loan is” How to repay it?” borrowers face a lot of difficulties in repaying the loan. The main problem faced by the borrowers in repaying the loan is the time given to them to repay. Borrowers who fail to repay the loan have to give away their property. But here there are a lot of different ways to repay the bridging loan. The borrower can choose the method of repayment which suits him the best.
- The methods of interest payment that they offer help all the borrowers irrespective of their living standards.
- The lenders completely understand the borrower and help them choose the correct offers that would suit them.
- The bridging loan comes to the action especially when you try selling an old house to buy a new one.
- They do their best to avail the top-rated offer to every customer each and every day throughout the year.
- They can provide a short-term source of finance. This type of loan is usually faster than if you were to apply for a general loan, to help with a property purchase.
- Many customers tend to repay their loan early. For this type of customers, there are usually short-term loans and can often be repaid early. By doing so you can repay your loan without penalty.
- They offer you wide range of loan amount varying from 25000 to 20000 million mainly from 1 to 24 months.
As from the above-mentioned features, it is clear that Finanta is the bridging loan lender. In addition to the above-mentioned features, Finanta also provides customer-care service which solves all kind of queries asked by the customers within 24 hours of time.
They also provide a perfect solution for all your cash needs and release the necessary amount within a week.
So it is one of the most secured, trustworthy and customer-friendly companies in which the borrowers face no burden and can have the required loan at best income rates.