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Positive Finance offer flexible bridging loan criteria for borrowers of all backgroundsIf you're looking for instant funding in order to help purchase a home and advance up the property ladder, a bridging loan can be an effective tool to have at your disposal. This kind of short-term loan is particularly useful if you want to buy a house but are having problems raising the money you do need to do so because of difficulties selling your existing property. Bridging loans have been put to good effect in this purpose by many people over the years, however they are also suitable in a range of other areas. Whatever reasons you may have for wanting to obtain a bridging loan, come to Positive Finance. We are a Manchester-based company and have been providing this kind of credit to people from a range of backgrounds and with different circumstances for many years, so you can be sure that you will meet our criteria. Will I be able to apply for a bridging loan? Although we are dedicated to offering the most competitive rates on bridging loans available, we are also focused on providing you with as friendly and flexible a service as possible – something we feel sets us apart from our competitors. You may also find that we take a much more accommodating approach than many other financial services providers when it comes to approving requests for credit. We look at each application individually and one of our experts will get back in touch within 24 hours to let you know whether you are eligible to receive a loan and to offer bridging loan advice on your next step. Even if a poor credit rating has meant you have struggled to obtain loans elsewhere, you should not let that stop you from getting in touch with us. Our lending solutions are tailored towards each customer's specific needs so we are well-placed to provide you with an affordable and flexible loan, whatever your circumstances. However, we ask that you are not bankrupt and that – because your bridging loan is secured against a property – that you are a homeowner prior to applying. Many people choose to use bridging finance to help them buy a home, but do not feel that you have to do so in order to successfully apply for a loan from us. Our customers have used credit to fund other purchases or manage their debts, so meeting our bridging loan criteria will not necessarily depend on whether or not you are attempting to move up the housing ladder. It is important that you fill in your loan application in as much detail as possible – the open market value of the property you want to secure a loan against and your monthly income are just two things we will want to know, for example – so that we can make an informed decision about whether to lend you money. Doing so could make all the difference in establishing if you meet our bridging loan criteria and the rate of interest your loan is set at. Finding out more about bridging loans Whatever reason you may have for wanting to obtain a bridging loan, Positive Finance can help. As one of the UK's leading providers of this kind of credit, we can give you a quick decision on whether your application has been successful and the money could be in your account within five working days. If you have any questions about taking out a bridging loan visit the FAQ page on our website or contact one of our friendly team. We can be reached on 0161 790 8114 – as well as by email – and we are more than happy to discuss any aspect of your application and offer advice on whether this kind of loan is suitable for you. Browse our site today and you can also read the latest financial industry news. To harness the benefits of bridging loans, make sure you contact Positive Finance. Finance articlesIs a bridging loan right for budding entrepreneurs? Raising the money you need to start a business can be hard, however, there are alternatives to bank loans. Among them are bridging loans, peer-to-peer lending and borrowing money from friends and family, meaning you need to do plenty of research. Important questions to ask bridging loan companies Before taking out a bridging loan, you must understand a number of key points. These include the rate of interest you will be charged, the length of time you have to repay the loan and whether there are any arrangement fees that apply. Why bridging loans are only suitable for short-term funding You should only consider bridging finance if your funding needs are temporary. This is because the high rates of interest make bridging finance unsuitable as a long-term solution, so if you have long-term needs, you should look at other options. Banks vs. specialist lenders – which bridging loans are best? Both banks and specialist bridging loan companies can provide the bridging finance you need, meaning you need to compare products from a range of providers. You need to look at factors such as interest rates and arrangement fees. Can bridging loans work for those who only need small amounts? Some bridging loan companies will lend up to £5 million if you have sufficient equity in your home, however, what if your borrowing needs are more modest? If you need a sum of £10,000, bridging loans can still be an option. A guide to commercial bridging loans Bridging loans can be taken out by both businesses and consumers, so if your firm has short-term funding needs, bridging finance is an option you may wish to consider. Bridging finance can be used for any purpose and are usually repaid within a year. How bridging loans can help you avoid repossession The prospect of repossession can be a very distressing feeling and you may feel that you have no options left. Bridging loans, however, can help you when you need it most. These short-term loans can stave off repossession and help you keep your home. How bridging loans can help buy-to-let investors If you are keen to take advantage of the buy-to-let boom, bridging finance can help you obtain a property. They are more flexible than buy-to-let mortgages and easier to obtain, so why not find out more by contacting a bridging loan provider? Why take out a bridging loan rather than a bank loan? Bridging loans have many advantages over bank loans and it is important that you explore these when weighing up the two options. While bank loans have lower interest rates, they are usually less flexible than bridging loans and slower to process. A guide to some of the different financial options for property purchases There are some real bargains to be had at property auctions and bridging loans can help you secure one. Provided you have a home that can be used as security, your chances of obtaining bridging finance are strong. What are the processes for paying back a bridging loan? If you take out a bridging loan, it is important to have an exit strategy, otherwise you could lose your home if you fail to repay the funds as agreed. There are various ways you can repay the loan, including using the proceeds from a property sale. What finance options are there for buying properties at auction? If you want to secure one of the many great deals that can be had at property auctions, you need to think about how you will fund your purchase. One option is bridging finance, which has several benefits, including less stringent lending criteria. Applying for bridging loans – brokers vs. applying directly When applying for a bridging loan, you must decide whether to do it yourself or go through a broker. There are advantages associated with both options, however, the case for doing the work yourself is strong. What processes will a bridging loan company take you through? Applying for a bridging loan is fairly simple, however, to be absolutely sure you have completed it properly, you could ask a bridging loan company to help you. This will help ensure the information is accurate and boost your chances of success. Will a poor credit rating affect your bridging loan application? Your bank may have refused you a loan as a result of your poor credit history, however, a bridging loan company will do no such thing provided you meet other criteria, so you should not assume that you have no options when it comes to borrowing. What makes people opt for bridging loans? If you need a large amount of money quickly, there are few better options than bridging loans. There are many reasons why people use bridging loans, including more flexible lending criteria and the ability to spend the money on whatever you please. Three top tips for a smooth bridging loan application process If you are honest with the information you provide to bridging loan companies and give them everything they ask for, the whole application process should be concluded swiftly. Preparing your application thoroughly will pay dividends in the long run. Why do people opt for auction bridging finance? You can secure some attractive properties at auctions and a lack of cash does not have to stop you from acquiring one. Bridging finance is often used to buy houses at auctions, so if you have found a bargain, a bridging loan could help you buy it. Can bridging loans help with overseas property purchases? Bridging loans can be used to purchase foreign property as well as homes in the UK, so if you have found a Spanish villa that would make the perfect holiday home, why not submit a bridging loan application to raise the necessary funds quickly? Will the wider economy affect your chances of getting bridging loans in 2012? The next 12 months look set to be a testing time for the global economy and this could impact on your ability to obtain a bridging loan. Speaking with an adviser about the best way forward could benefit you and improve your chances of success. What are the implications of using a bridging loan in the current economic climate? A bridging loan can be a good solution to short-term funding problems, however, in the current economic climate, it is important to think carefully before taking one out. Speaking to an adviser may help you make the right decision. Five things you should know about bridging loans Before taking out a bridging loan, there are some important points you need to know and take into consideration. Bridging loans have many benefits but may not be the best solution for everyone, so it is important you understand what they are about. Is it better to opt for open or closed bridging loans? There are two main options when it comes to bridging loans – open and closed – and it is important that you understand the differences between them. Each has its own pros and cons, so speaking to an adviser may help you to make an informed decision. Criteria you should look for in bridging loan companies If you are hoping to obtain bridging finance your thoughts could well be preoccupied with what you intend to do with the money. However, instead of rushing out and applying for credit with the first lender you come across, it is important to seek out bridging loan companies with care. Bridging loans can be a good short-term option for companies Whether you own a small business or are in charge of a much larger organisation, bridging loans can be an effective financial resource to call upon. By taking out this kind of credit arrangement, your company can access the short-term cash required to meet a range of goals. Why have bridging loans recently increased in popularity? Bridging loans have several benefits that a growing number of people are keen to take advantage of, particularly in terms of property transactions. So, just why is this form of finance increasing in popularity in the UK? Use bridging loans to purchase properties at auction Attending an auction can prove a fantastic way for you to purchase properties for significantly less than market value. However, if you have successfully bid on a development, it is vital that you consider how you will actually buy it and this is where bridging finance can come in handy. Bridging loans offer access to money quickly If you find yourself in a position where you need to access money quickly, it is worth considering the benefits that are on hand with bridging loans. As such products are specifically designed for those who require funds urgently, they can prove to offer a timely cash boost. Bridging loans – the truth behind the common misconceptions For many people, bridging loans have been an effective way of getting the money they need quickly. However, there remain several misconceptions about them so if you're unsure whether a bridging loan is for you, it's a good idea to ignore these mistruths and make sure you find out the facts. How a business can use a bridging loan Applying for a bridging loan offers businesses an effective way of borrowing money quickly. These loans are designed to be a flexible financial product and so companies of all sizes and across a wide range of industries may find that they provide the cash boost required to meet a number of goals. Bridging loan – a flexible financial choice Bridging loans are not just a quick way for you to borrow money, but are also highly flexible. Whatever your financial needs are, they may prove to be a product that you wish to consider. What are the costs involved in taking out a bridging loan? Taking out a bridging loan can be a great way for you to raise the cash needed to meet a range of financial goals; however, it is a good idea to first be aware of the costs that are attached to such products. Typical characteristics of a bridging loan Bridging loans can prove an effective way to borrow, especially at times when you need to get money quickly. However, before you apply for one, it is worth first bearing in mind the product's characteristics. Factors to think about before applying for a bridging loan A bridging loan can offer a useful way of raising the money needed to buy property – as well as achieve a range of other goals – however, that you lend some consideration to the product before applying one. How bridging loans can help to purchase buy-to-let homes Renting out properties that you own to other people can provide you with a significant source of income. But whether you're looking to acquire your first buy-to-let home or have been in the market for some time and are keen to expand your portfolio, a bridging loan can be a useful product to realise your ambitions. Use bridging loans to increase the market value of your home For an effective way of raising funds with which to pay for property renovation, a bridging loan could prove an ideal solution. Bridging loans for land purchases Bridging loans can be an excellent way of securing additional funding, with borrowers able to access cash both swiftly and efficiently using such an arrangement. The difference between closed and open bridging loans If you encounter problems during the property buying process and are looking for a quick financial boost, a bridging loan could be the answer. Depending on your circumstances, however, you will need to take out either an open or closed loan. Using bridging loans to buy residential property Bridging loans can be a very effective financial product with which to meet a wide range of goals; however, they are most often used to purchase property, largely due to the fact they can be applied for and taken out at relatively short notice. A guide to auction bridging loans Visit a property auction and you can purchase real estate for significantly less than its open-market value. So you've qualified for a bridging loan: What happens next? You have weighed up your options, discussed the type of borrowing that best suits your circumstances, had your bridging loan questions answered and applied for finance – what happens next? Understanding the different types of bridging loans available You may find that a bridging loan is an incredibly effective financial tool to use. However, before putting in a request for such a short notice borrowing product, it is a good idea to have a grasp of the different kinds of loans that are available. What can I use a bridging loan for and when might I need one? If you need to borrow money quickly, a bridging loan can prove to be incredibly useful. By taking out this flexible financial product, you may find that you'll be able to meet a wide range of goals. Differences between commercial and personal bridging loans Bridging loans can prove to be an extremely flexible and useful financial tool and can be put to equally good effect if you're searching for funding in order to meet either individual aspirations or those of your business. Top tips for choosing a bridging loan If you need to access money quickly, you may want to consider the benefits that are on hand with taking out a bridging loan. Bridging loans explained We all experience a shortage of cash from time to time, whether it is due to unexpected circumstances or you simply need to fund a large purchase. If you are in this situation, you may be considering taking out a bridging loan – but what exactly does this entail? |
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