Are you a homeowner? Yes No Loan amount 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 32,000 34,000 36,000 38,000 40,000 42,000 44,000 46,000 48,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 How soon do you need the money? Select ASAP Within Next Month Within Next 3 Months Not Urgent Purpose of loan Select Debt Consolidation Refinancing House Purchase Home Improvement Remortgage - Home Improvement Wedding Car Holiday Business Other Any UNSETTLED defaults or CCJs from the last 3 years? Yes No Uncertain Type of application Individual Joint Title Select Mr Mrs Ms Sir Dr Firstname Surname Employment status Select Employed Unemployed Self-Employed Director Director-Owner Retired Agency Worker Second Applicant: Title Select Mr Mrs Ms Sir Dr Firstname Surname Employment status Select Employed Unemployed Self-Employed Director Director-Owner Retired Agency Worker Email address Daytime phone number Evening phone number Mobile phone number Address Town County Postcode I / We agree to the terms and conditions [Ensure that your details are correct before submitting]

Secured Loans > Bridging Loans

Buying a house is a big step, whether it be your very first one or if you are moving on from your existing home that you own, and it can often be a very stressful time. Finding a house that you like in the area that you want to live in can be difficult, and when you do find one and have your heart set on buying it there is always the worry that the sale will fall through either because of the seller pulling out or because another person in the chain has problems and so the whole chain collapses.

If you have found the house that you would like to make your home but are held back from completing on the purchase because you have yet to find a buyer for your property and so lack the funds you need, then a bridging loan can remedy the situation. The process of finding and buying a house can be stressful enough without worrying about if you are going to loose out because you cannot sell your property in time, getting a bridging loan can alleviate this situation.

www.carpetbagging.co.uk Free tips and advice to consider before applying for a loan. Tips to Consider when Applying for Loan

A bridging loan provides short-term financing to cover the money that you need in order to complete your purchase while waiting for the sale of your house to take place. The loan is secured against your current property, this is needed as it will generally be for a large amount and so an unsecured loan would not be suitable, the amount that you will be able to borrow will limited to the equity in your home. This is the value of the property less any outstanding mortgage or other loans secured against it, and should be sufficient in most cases to provide the amount you need to make up the shortfall for the purchase of your new home.

Using a bridging loan is a common practice, especially in times of a seller's market when property is in high demand as vendor's have the luxury to pick and choose who they sell to, because they are often in a hurry to move, the speed at which a buyer can complete is important. Being able to complete on a purchase quickly could well make or break a house deal, a bridging loan can provide the speed that the vendor requires.

Many people when selling their homes are keen to make a quick sale, especially if they already have the house that they are going to buy lined up, in some cases if you are unable to complete on the purchase within the timescale set by the vendor then they will withdraw the property and put it back on the market.

A bridging loan can ensure that you do not loose out on your dream home even if yours takes longer to sell than you hoped, allowing you to complete on the deal and worry about selling your old property at a later date.

Despite the costs, bridging loans are very popular, after all if you have spent a lot of time searching for the perfect property you will not want to miss out on it because of a relatively short delay in the sale of your current property. It is in these cases where bridging loans can prove invaluable, enabling you to secure the sale of the home that you want, and concentrate on the sale of your property at a later date.

When looking at the bridging loan deals available you may think that they charge a high rate of interest when compared to other forms of loan, however you need to realise that these APR figures are based on a yearly timescale, and the bridging loan will usually only be in place for a handful of months. The cost of such a loan is minimal when taken in the context of the whole house-moving event, and is worth every penny if it saves you from having to go through the whole house hunting process again.