Perhaps you’ve got your eye on a piece of jewelry. Who wouldn’t want a lovely diamond? Or maybe you want something else, like a cottage, a boat, or a vacation. What do you want? Does it seem like you’ll never own it? It’s possible. Sometimes that happens to people: their income simply evaporates with bills, bills, and more bills!

 

In fact, maybe you find that your income is just enough to make ends meet, with barely any extra left over to put away for a rainy day. If that’s you, you might want to consider getting a UK secured loan to help you get the things you want and need. That way, you’ll still be able to enjoy the things you want and you’ll have a low monthly payment to pay it back, so you can start enjoying it right away!

 

An unsecured loan is a loan that relies only on your credit rating to determine whether or not a lending institute will give you money. These types of loans will often not give you a lot of money and they will charge high interest and have shorter repayment periods.

 

However a secured loan may be a better option. And if you want that boat, fancy car, or a new roof on your home, a secured loan may be the thing you need. A secured loan is a loan that has some kind of security against it. That means you have some asset that allows you to promise the lending institution some kind of guarantee. If you cannot make the payment, the lending institute may take your asset as an alternative form of repayment. Because this kind of loan is less risky than an unsecured loan, lending agencies are often far more flexible with you. They’ll give you more money at a better rate of interest and give you longer to pay it back!

 

Look around your life and determine what kind of assets you have that will allow you to get a loan. Do you a car? A house? Some stock market certificates? Some jewelry? Whatever it might be, you may find a lending agency who is willing to work with you based on those assets as a guarantee for a secured loan.

 

So if you’re looking to get something nice for yourself, like that boat or new car or new roof, you should consider getting a secured loan to help you. Many people are choosing to go that route because our world doesn’t pay us what we’re worth! So instead of putting off your pleasure for later (and you know that it may never happen), go out and apply for a loan. There are many companies available online who are eager to do business with you today!

 

About the Author Jeff Lakie is the owner of http://www.123-homeowner-loans.co.uk providing Uk homeowners with a free loan quote service. Visit us today for a free no obligation quote.

Source: ArticleTrader.com

What are Bridging Loan and how they can be used.

At General Finance Centre, we offer our clients flexible finance solutions to our customers, so they can secure the business premises they need with the commercial Mortgages which is right for them.

 

On occasion, we can also offer business finance for 100% of the purchase price (or 80% of the property value ,whichever is lower) in the form of a closed commercial bridging loan. Closed bridging loans can obviously only be offered to those applicant who have exchanged. We can also offer open commercial bridging loans (available before completing) for up to 75% of the property value.

 

Bridging Loan is a type of loan that is used to cover shortfalls between buying one property and selling another; or to cover businesses between funding shortfalls.

 

A good example of when you might need a bridging loan would be if you’re poised to buy a new property but are let down on the sale of your existing one. therefore to buy the property or commercial property you are looking for you will often need a Bridging Loan to cover the time period from selling your first property.

 

It’s basically a very short term commercial mortgage Like a mortgage, it’s a loan that is “secured” against property

 

Bridging loans available from £30,000 to £10,000,000

Non status or Self Certification facilities are available to customers without income proof

 

Credit problems such as mortgage arrears, loan defaults or county court judgements are sometimes accepted

 

Offer of loan maybe released within 24 hours upon receipt of full application form, valuation reports and financial information.

 

Example of a recently completed commercial bridging loan:
1) The client purchased commercial investment property at £3,750,000.
2) The sale is negotiated with a third party to complete in three months time at £6,600,000.
3) 100% of purchase price (£3,750,000) was approved by the bank at 4% over base rate.

 

Call us on 0800 019 5178 or complete the enquiry form on this page to find how we can help. Remember, whatever your business or status, our aim is always to say yes.

 

About the Author I write for and behalf of General Finance Centre

Source: ArticleTrader.com

How Does Bridging Loan Finance Work ?

 

Business and commerce is a popular use for bridging loan finance. Although many believe that this kind of secured credit is expensive there is a time and place for this kind of loan. To give a typical cost of bridging loan finance lets look at what you would pay to borrow £300,000 for a short time of a month. Now the monthly rate you pay depends on many factors, but mostly the amount you are borrowing compared to the security expressed as a percent. 70%, 80%, 85%, 90%, 95% and 100% bridging loan finance tend to be on higher rates. The percent is called LTV or loan to value. So on a bridging loan of £300,000 for a short time of a month. The rate could typically be 1.25% so you would be paying £3750.00 per month.

 

The borrower has various options for paying back the loan. Some prefer to spread the amount on another loan that can be paid over a term of upto 36 months. Others prefer to pay the amount on a monthly basis. Another option is to get the bridging loan for an amount of say £100,000 plus the interest of say 2 months ie £102500 in total. Therefore with this option there are no monthly payments to make, but the loan and interest is paid at the end of the specified time frame.

 

Typical uses of bridging loan finance are buying property at auction where funds are required in days not months. Business ventures, buying another house when you’re existing home hasn’t been sold. Using the bridging loan finance to stop bankruptcy or repossesion. Commercial business’s who are moving premises. Venture capital for entrepreneurs. A bridge loan can be used for any legal reason provided you have adequate equity. Bad credit history and arrears don’t normally affect bridge finance as the nature of the credit is short term and secured.

 

To find out more visit http://www.bridgingloanfinance.co.uk/

About the Author Damian is the owner of many finance related websites. Including mortgage, loans and debt advice.

Source: ArticleTrader.com

Times you could use a bridging finance loan shown below !

 

Example 1 - 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

 

Example 2 - Purchasing a property at auction - With land and property auctions it is normal that transfers of funds take place very shortly after an auction ends. If you have no commercial mortgage or loan in place then bridging finance is a perfect short term solution.

 

Example 3 - A business needs to raise cash fast - In this instance a business may need to buy out a competitor or expand it’s existing business and it doesn’t have time to wait for a commercial mortgage or business loan. Bridging finance can normally be raised in as little as 2 or 3 days.

 

Example 4 - A business is moving premises - Unfortunately normally you can’t close your main business until your new plant or premises have been prepared with machinery or the necessary equipment to function properly. In these cases Cheap over a million bridging loan finance credit can be used to provide temporary cash until your new premises are functioning and the old premises sold.

 

Many people don’t apply for over a million bridging loan finance because they expect to be rejected, or have already been turned down by their bank. You may be surprised though as we can accept applications from late mortgage payments.

 

Of course you may want to know about the expense for a loan for the total amount of £200000 for a 3 month period at 1% would cost you £6000. Obviously each case is assesses on it’s own merits and rates can be lower or higher.

 

To find out more or get individual quotations visit Business Bridging Finance

About the Author Damian is the owner of many finance related websites. Including mortgage, loans and debt advice. For more information visit Short Term Bridging Loans

Source: ArticleTrader.com