Bridging loans can be taken for several reasons. These include investing in property, development of real estate, buy-to-let or if you have a pressing need and require the cash as soon as possible. They are a basically a short term loan that are used when there is a need to bridge the gap when you have a debt that needs to be paid; but the credit you have been waiting for is taking a long time coming through. Usually this occurs in property transactions. These have become popular Singapore loans that are benefiting many.
Bridging loans have been designed to act as a stop gap measure and come into play to assist people in completing a purchase as they wait for their home to sell. Since they are not considered the main line of credit, the interest rate on them can be a tad high. These loans work well for property developers who are just starting out and for landlords as well. If you decide to purchase your home at an auction and need money almost immediately, they are a great option for you as well. Singapore loans, such as these, are available from licensed moneylenders without too much fuss.
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