What is a Bridging Loan?
A bridging loan is most commonly thought of in context with a house purchase, when the seller has not yet sold the original house, but wants to go ahead with the purchase of the second house.
The bridging loan is a short term loan for the amount of money you expect to raise when you eventually sell the original house. This bridging loan enables you to go ahead with the purchase of the second house before you sell the original one, and when the original house is eventually sold, you pay off the bridging loan.
Of course you may need a bridging loan, or short term loan, for all sorts of reasons. One good reason for thinking about a pawn loan in this context is that a pawnbroker will not ask for credit checks or proof of income, and will not ask intrusive questions or cause bureaucratic delays.
If you have appropriate collateral, in the form of gold, diamonds, jewellery, watches, art, antiques, or any other personal valuables or assets, you will always be able to raise an asset-backed loan from Borro.com - the world’s first online pawnbroker.
A collateral loan from Borro.com is discreet, convenient, safe, flexible - and fast! Borro.com often advances loans of £100 - £100,000 within 48 hours of application.
Borro.com is flexible too! You can borrow for 1 – 6 months (extendable by mutual agreement), but you can pay off the loan any time you like – with no early settlement fees – or any other hidden extras!
You only pay interest on a Borro loan during the time you actually use the loan, so you are totally in control. Even if you decide not to extend or pay off a Borro loan, you will always be able to settle the debt, you will be given ample notice of any intention to sell your pledge, and any cash left over will be sent straight back to you.
Whatever happens, a Borro loan will never result in a missold loan that gets out of control with expensive extras, such as admin & setup fees, late payment charges and default penalties - so there is absolutely no risk of adverse credit ratings, debt collectors, court actions, bailiffs, asset seizures or repossessions.
With Borro.com, the world’s first online pawn shop, you will always get easy cash, in the form of fast cash at low rates. If you need a personal loan, student loan or small business loan, look no further than short term loan provider, Borro.com.
For a secured loan, in the form of a low interest rate loan, apply for a cheap, no risk collateral loan at Borro.com, or call us, free, on 0800 756 9877.
