Enter the Bridging Finance Loan. A loan specifically designed to assist you at this stage of the purchase process as you climb your way up the property ladder.
A Bridging Finance Loan is a type of intermediate or temporary home loan which will generally enable the purchaser of a particular property to buy the property they desire without becoming entangled in the delays which are sometimes associated with the lengthy property sales procedure. This can offer you a massive advantage over other buyers who are interested in the same property as you are. Once you have found the property you require and do not want to run the risk of losing this ideal piece of real estate due to a few lengthy links in the sales chain, a Bridging Finance Loan will present itself as the most suitable option for you. Bridging Finance can also help you avoid the wastage and inconvenience of having to move into rented accommodation while your monetary affairs are sorted. You will be able to move straight into your new property once your loan has been secured so the whole process will be easier for you and less stressful as the back and forth of moving from rental to fixed accommodation will have been eliminated.
Why has no one told you about this before I hear you ask? Well, in earlier years, bridging lenders were thought to be the last option for purchasers who found themselves in the position of requiring additional capital in order to secure their dream home or that perfectly situated business property they have been after. We are living in changing times though and what was once thought of as a last resort has now become part of the accepted norm and an integral role player in the property sales process as we know it today. Bridging Finance is no longer a term which is to be treated skeptically due to uncertainty and lack of available information. This method of finance has truly taken its place in the market as an important arrow in the quiver of prospective property buyers not only in South Africa alone, but in the global property arena as well.
Bearing in mind its newly acquired status in the property game, the future of Bridging Finance is extremely bright. In fact, this is but one of many changes we will see in the financial market in general. The post credit-crunch financial market is set to morph into a totally different and more glorious animal – Bridging Finance will fill the gaps and help it to do just that.
Jackson Peters is an experienced mortgage loansÂ agent with a wealth of knowledge in bridging finance related matters.Â He is planning on realeasing a book he has been working on for quite some time during 2011.