Short term loans can be used for virtually any purpose such as business ventures, property purchase, property development, tax payments etc and can be on an interest only basis or the interest can be rolled up into the loan so there are no payments. It is important that you have a plan to pay the loan off as lender expect the loan to last, generally, no more than 18 months – often the loans are taken for only 2 or 3 months. Typically the loan is paid off by property sale, a remortgage, inheritance or a business venture completing.
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If you would like more information, below are links to the most popular pages on our website which other applicants have found helpful
Secured loans now have low settlement penalties and are generally cheaper than a bridging loan. We can look at both options for you so you can make a comparison.
If your loan is for business purposes, there may be other options worth considering dependant on what type of security you are offering. Different terms are also available to businesses which may be more favourable. Call us to discuss your requirements