Can Bad Credit scorers apply for Bridging Loans?
People often hesitate when opting for a bridging loan this can often be due to their bad credit history. However, the good news is that bad credit scorers can also benefit from a bridging loan. Bridging loans are secured on either an existing property or against the new property for which the facility is required, almost any one can apply. A bridging loan can even help to improve your credit score if loan payments are made on time. Bridging Loan Repayments- Bridging loans are short term loans, therefore the interest rates charged are generally higher than traditional loans, and it is most important to repay the loan on time, the repayment term is generally between 3-12 months, in some cases an extension of time can be arranged.
