Advantages of short-term finance
How you can get fast funding with short-term bridging finance
Gap in the property chain? Banks let you down? If you are having an issue with the funding for a project it is inevitable you would consider short-term finance.
A bridging loan can be just that. Imagine your project as many small sections along a track: if one part falls out of place it can stop you reaching the end. Here, a bridging loan allows you to move over those gaps and continue along the path to success. Read on to find out how.
Faster application, better situation
Perhaps the main question people ask before they take out a bridging loan is as follows — is this going to help me? Let us look at how this question breaks down:
- Does it help in an emergency period?
- Is the application process fast?
- How quickly do I receive payment?
- How long is the repayment period?
Yes. One of the most common reasons for a bridging loan is when there is a gap in a property chain — however you can borrow from Affirmative Finance in many other situations.
Each application is seen by a team of experienced underwriters who know exactly what to look for in your particular situation. Our record to finish an application is 4 hours.
Depending on your situation this can be a matter of hours or days – the sooner you call us the sooner your funding is arranged.
The term for most of our loans is 12 months, with the option to extend this in certain circumstances.
But what about...
A few people may have concern about the fees and interest rates which are attached to short-term loans. Affirmative is always upfront about the costs to you, which are often not the same as the losses that can occur without a bridging loan (for example losing a deposit on a property).
Our team of underwriters have instilled an ethos of responsible lending into the company. The exit plan is crucial.
At times, short-term finance can be the best route through a situation. So if you want to receive payment as soon as possible, start the fast application process today.
Depending on your project, your bridging loan could be between £10,000 to £5 million. Call our Manchester office on 08000 44 84 84 to find out more.