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Bridging the gap between property purchases!
Purchasing a property is one of the biggest financial commitments you will take on in your lifetime and when moving from one to another it can become extremely costly, especially when funds might be required to purchase your new home before selling your old one. This is where a Bridging Loan could come in useful. It is a short-term borrowing option available to you if you need to free up some cash to purchase your new home when your existing property is taking a while to sell.
Bridging Loans are becoming increasingly popular especially in an economy where it is often the only option available to make the property purchase possible. However before requesting this type of loan, it is essential to research into all the options available to you before committing as it will mean that you will be paying back two loans for a short period of time – one for your new property and the other for the old one that has been put on the market for sale.
This is where our Money Compare website comes in as we provide detailed information for varied types of monetary products for your financial needs under one platform. You just need to choose the category of the product and search it accordingly.