Category Archives: Loan


Facts To Know About Bridging Loans

When looking for financial assistance, you will realize that so many banks and financial institutions are willing to help. However, this is not until you start the application process. Loads of financial obligations and regulatory frameworks can make your life for difficult. That said, there is an easier option of accessing cash just when you need it. Whenever you require immediate funding, Bridging Loans London are the answer. The good thing about these loans is that they are not restrictive. Meaning, you can have the amount you have when you want it most.

What are Bridging loans?

Ideally, bridging loans are short-term mortgages lent to borrowers in situations that require immediate funding. Contrary to mortgages, this source of financing does not require a lengthy process. You only need to have security for the loan. This could be an asset or non-property asset.

Types of bridging loans

Most lenders offer two major types of bridging loans. Closed and open loans. Closes loans are advanced to lenders that are certain of when they will repay the money. However, in the case of any uncertainties in your income streams, it is prudent to go for an open loan.For instance, in case you have just listed your property for sale, and you need cash, it is prudent to seek an open one considering that property sale can take some time. Besides, if you already have a buyer, and you are just about to complete the deal, you can opt for the closed option.

Amount awarded

The amount of money received depend on the security. Ideally, the loan to value amount is usually close to 80%. In exceptional instances, this rate can be higher based on whether the loan is closed or open. Closed loans can be awarded a higher loan to value rates than most open loans. This implies that lenders with valued assets as securities are entitled to better deals. Notably, commercial bridging loans have higher interest rates that those offered by banks. However, they present the best short-term solutions for lenders that are not willing to follow the lengthy process common to banks.

When in dire financial need, most people are tempted to approach sharks or take payday loans to address their financial emergencies. As far as these options are concerns, you might have read or come across the horror stories that result. As such, with some equity, you should consider looking for bridging loans for all the right reasons.

car loan

How to qualify for a car loan with bad credit?

In the United States, the credit score of each citizen is very important as it is one of the main basis for loan approval as well as interest rate when an individual is trying to apply for a loan. However, not all Americans have a good standing when it comes to their credit history. A lot of them have bad credits. This is why many people are having a hard time getting approved for their loans. Some get approved, but they have to deal with high interest rates while some get rejected.

Getting a car loan with bad credit

If you are one of the people who are aiming to get a car loan but you have bad credit, there is good news for you. Nowadays, it is already possible for you to apply for a car loan even if your credit score is not-so-good. If you take a look at, you will see that more and more US citizens are given the chance to take advantage of car loans despite the fact that they have bad credits.

So, you have to cheer up because you still have the opportunity to own the vehicle that you want even if your credit score was compromised in the past.

Here are some tips on how you can qualify for a car loan with bad credit.

Determine your latest credit score

Before you go ahead and submit your application for an auto loan, it is very important that you know your latest credit score. You can check it by requesting a copy of the report from a credit reporting agency. You can do this for free by utilizing the website of the agency. If you think that your score is still not so appealing, you can improve your standing by paying off some of the debts that you have.

Provide a higher down payment

When you are applying for a car loan, the first thing that they would ask you is how much you can provide for the down payment. If you can provide a higher initial payment, your chances will be so much higher.

Take a look at the largest car dealerships

Most of the time, the largest car dealerships have an assigned finance department that assists creditors who are in the same boat as yours. They can make special arrangements. Furthermore, it would be better if you visit the car dealerships close to the end of the month because most of them are trying to reach their quota during that time. You would have a better chance of getting a good deal.