Bridging loan directory
In the UK alone, when you search in Google for bridging loans, you should discover that you have around two million web pages to choose from. That is a lot of choice!
How do you know which websites to apply to? How can you tell the difference between loan brokers and principle lenders? Do you know the difference between the two?
There are many different names given to this type of short term lending including property finance, short term loans and auction finance, as well as home loans and homeowner financing.
Whichever search query you enter into a search engine, you will find different results for each, even though they are all offering the same package - bridging finance.
The terms and rate may alter slightly between the companies, and in this little finance directory, we have listed a small selection and also reviewed their service up to the point of signing for a loan.
We hope that we can help make an informed when choosing a company to set up your bridge finance.
Feel free to submit a review to us if they do actually help you out.
Did you know.....
A loans broker is not usually the actual lender. Once you apply to a broker he will then go to several principle lenders to get you your short term finance. He doesn't work for free. Either he will charge you a brokers fee upfront, some even charge this even if you do not get a loan, or he will receive an introducer's fee from the principle lender who borrows you the advance. Either way, somebody has to pay this fee, and it tends to be the person obtaining financing.
Avoid set up fees, finder's costs or an increase on your interest by dealing directly with the principle lender. The principle lender is the company that actually lends the money. Normally they have not set up fees, or brokers cost that need to be covered, which can save up to £750.00 in up front fees depending on your loan amount, or save you paying a higher rate of interest.
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