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you want to buy a particular property, you must buy it immediately or someone else will buy it. The price may rise later. But you do not have enough money and to sell your old property will take time. You have to borrow money but it should be enough to adjust your financial conditions.
This finance gives you sufficient time to pay off the loan. The borrower sells the old property and pays off the borrowed finance with the fees. Lenders give you enough time to sell your old property at the price you are asking. This may takes sometime. This enables the borrower to sell the property at a substantial profit.
To take this finance the borrower has to offer some security to the lender to secure the loan as a huge amount is at risk. The security can be anything such as new or old property of borrower. Lenders are ready to accept anything as security as long as it has equity in it. Most times [link widoczny dla zalogowanych], the property that the borrower is planning to buy is kept as security.
One can borrow sufficient money to buy a new property. But even the equity in the property as security plays an important part in deciding the borrowed amount. Higher the equity, higher the finance you get. Till the old property is sold out [link widoczny dla zalogowanych], the loan is a short term arrangement of credit. The lenders charge a high interest rate since the finance is short termed.
desy gill aims to inform about the several issues involved in personal loans and mortgages through her articles.She very experienced in the field of finance. To find bridging loan, commercial bridging loan, refurbishment bridging loan [link widoczny dla zalogowanych], personal bridging loan visit