Start your new business or expand your existing business with the Best Bridging Loans
Bridging finance from HomeSec is specially designed to offer you hassle-free and smooth solutions to provide funding for any worthwhile business purpose. Bridging funding is a short-term financial solution to provide fast funds for your business, and the business owner can pay the entire amount at the end of the term from an exit strategy such as sale of the property. To assist in easing any financial strain in this scenario, the borrower does not have to repay the loan amount till he/she has sold out the current asset. However, interest can be capitalised into the loan so that there is no repayment required until the end of the term.
HomeSec assists established business owners or entrepreneurs by providing bridging loans to meet their business requirements. You will have up to 6 months to repay the total amount together with interest charges after the loan gets approved.
How do short-term bridging loans operate?
When you apply for bridging funding from HomeSec, the lender will take security over the property asset offered as security. The total amount the borrower will take from us is known as total loan advance. The total loan advance includes all costs to establish the loan and interest for the nominated term.
HomeSec can also offer a 12 month term which calculates the minimum repayments of the bridging finance based on the interest-only. In most cases, the interest gets capitalized till the time the loan is repaid in full.
Reasons for taking the best bridging loans
There are many reasons why a bridging loan can assist a business two of these reasons are as follows.
Complete renovations to a commercial property
Bridging loans allows a person to borrow up to 100% of the total cost of a renovation provided there is sufficient equity in the property being offered as security. As all costs are included in the loan it can be an affordable option.
Capitalization of the Interest rates
A short term bridging loan with the feature of interest rate capitalization is a great solution for your business . It will permit the borrower to have breathing room while and free up cash flow in the business.
Eligibility of the best bridging loans from HomeSec
Anyone with the below criteria will be eligible for the bridging finance from HomeSec.
Lenders will have a look into the existing home equity before assessing how much you can borrow. It is needless to say that the more home equity the borrower will have, the more will be the bridging loan amount.
Sale contract of the current asset
Lenders also require evidence supporting the contract if the current asset is to be sold as the exit strategy.
Total loan advance
The amount of total loan advance is determined by the equity, Homesec Business Finance will lend up to 75% of the value of the security property less the current amount owing to the first mortgagee.
HomeSec has been assisting businesses with their financial problems for more than seventeen years. We provide a full competitive funding solutions. We offer secure and simple digital bridging financial solutions. Bridging loans are an outstanding alternative for those people who have access quick funds while waiting for the sale of a current property. Thus before opting for the loan, talk to any of our professional lending specialists so that they can offer the most appropriate financial resolution for you.
Fill out the form or call us to know if you are eligible for bridging funds or not!