Are Bridging Loans A Good Idea?

Are Bridging Loans A Good Idea?

1 Answer

  1. Bridging loans is a great idea if you are in an immediate need of financing and can actually afford them. It can be helpful if you are trying to buy and sell property at the same time and you have low cash balances. With a bridging loan, you can avoid the stress of matching up settlement dates, move quickly to buy your new home and give yourself more time to sell your existing property. Although you need to keep in mind that these loans come with a bulky interest rate and it can become difficult for you to repay them. It is a good idea since as we know in markets where sellers often get multiple offers, those that come with conditions may not be able to compete against offers from buyers who already have the funds.

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