It is a short term loan as indicated by the name. It plays the role of the bridge when you sail out of the old property and purchases a new property. It requires some amount when you sell the property and purchase new property. These are the loan which is designed until receiving the proceeds from the sale. These are very short term loan and you have to repay in 6 to 12 months.
You can borrow up to 15 % of the purchase price of your new property. It is valid for 6 months. You can apply for a bridging a loan through a process. It is an easy process. You have to provide the purchase documents. You can borrow up to 15 % of the purchase price of your new property. It is valid for 6 months. You can apply for a bridging a loan through a process. It is an easy process. You have to provide the purchase documents
There is an interest rate of 6 % that is per annum. You have to pay the only interest amount until the sale of the new property. So when you receive the sale proceeds, then you can repay the principal amount of loans. So it is a good way to fulfill your requirements.
Although it is one of the easy ways of the loan, it is a very expensive loan. You have to pay a large amount of interest rate. However, it is a good option for you when you sale out the old home and buys a new home. Singapore Property Bridging Loan is available in Singapore and you can avail easily from