Unlike traditional loans which have terms that run for years, short term bridging loans are a great option for people who need money for a shorter period of time. Traditional loans can cost a lot in both fees and interest, and the amount that you pay for your loan will only increase as you choose a loan with a longer term. At Donkey Finance we recognise that not all of our customers need loans for long periods of time, and this is why we offer shorter terms.
Before applying for short term bridge finance it is important that you get the right term for your needs. We offer loans that vary from 1 to 12 months, making it easy for our customers to choose the right loan product for their needs. Another benefit that you’ll enjoy, when you opt for one of our bridging loans, is that the money can be transferred to your account in a short period of time.
Reasons to Consider Short Term Loans
While traditional mortgages are great in for many people, if you only need money to bridge a gap then short term bridge loans may be a great choice for you. These loans are perfect for helping you meet a need, no matter whether that need is to buy property at auction, deal with cash flow problems, or refinish rental property. Additionally, these loans can assist with property development, and they can enable you to purchase property that is offered below its market value.
At Donkey Finance we understand that sometimes you need money, but for a significantly shorter period of time than is allowed with traditional loan products. For this very reason, we work hard to provide our customers with bridging loans that have shorter terms. No matter what kind of property you want to use as security, what kind of credit or income you have, or the state of the property, we can generally work with our customers to get them the funding they need.