Moving and Downsizing Home: Why Bridging Finance is the Answer


Most of the people that are in the process of making this huge decision often wonder about selling their home and then end up struggling to find their next one. Also, they may be worried that they will find the home that they have always dreamed of, but then they still have not really sold the present one they are living in.

A very good solution to these dilemmas would be bridging finance. As the name implies, it is a bridge that is designed to help make it possible for you to go through one property transaction to another. What it does is provide you with funds that you need to make the purchase of a new house possible on the condition that you will sell your current one.

It offers you the flexibility to make the purchase without the need to have to wait until your present home is sold before entering into a contract. It helps simplify the usually complex and messy terms that are usually involved when everything has to be banked on you selling your current home.

Many people have noted that availing of a bridge loan helped them go through the moving process a lot easier. The fact that they will not have to deal with immediate deadlines when they have to vacate their homes ensures that they will be able to go through the moving process at their own time and pace. At the same time, this gives you the opportunity to even get the new property decorated and improved first before you will decide to move in.

Bridge loans work almost the same as any home loan. There will also be repayments that are required if you are to take advantage of one. The way the loan is fashioned is quite ideal especially for retirees that need to deal with reduced incomes who want to reduce their home expenses by either moving to a less expensive home or by downsizing their house. This is also ideal for those home-owners who presently have a loan on their property that must be repaid first before they can get the house sold.

When availing of a bridge loan, it is important to remember that certain requirements may be asked of you, the borrower, before you can proceed with the application. Read more latest news about bridging finance on Richard Butler Creagh blog here. You can also like and visit Richard Butler Creagh official Facebook page here.

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Posted: 12/12/2017 13:26:02 by Simon Leigh | with 1 comments
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Anne Harris
I really like your tips. Very articulately put together Richard. Well done!
16/12/2017 11:32:44

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