Asked by Ms. Asia Andin
What is 'bridging loan' and its pro & con?
1776 views
3 Answers
Hi,
I supposed you are looking at an EC purchase at the moment? A bridging loan allows you to use your projected sales proceeds to fund any shortfall in purchase price. May I have more details so as to further assist with your EC purchase plans and share with you the pros and cons? Thanks and hope to assist further.
Warm regards
Ivan ERA
97432395
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
I supposed you are looking at an EC purchase at the moment? A bridging loan allows you to use your projected sales proceeds to fund any shortfall in purchase price. May I have more details so as to further assist with your EC purchase plans and share with you the pros and cons? Thanks and hope to assist further.
Warm regards
Ivan ERA
97432395
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
Hi Mr Asia,
Basically bridging loan allows you to fund the downpayment of your next property purchase, while you are still in the process of selling your HDB flat or private property. This is generally a short term loan with a maximum loan tenure of 6 months.
Cons I will say is the interest that you have to pay.
But the pros is to allow you to purchase the next property without having to wait for your sales proceed, easing your cash flow. Especially if you have already seen a property that you like, you can make a decision to purchase it and do not have to worry that it will be sold by the time you receive your sales proceed.
Terms and conditions do apply and I would advice you to speak to a banker first. I will gladly provide you with contacts of your preferred bank.
Regards,
Vera Wang
H/P No.: 8777 7907 Read More
Basically bridging loan allows you to fund the downpayment of your next property purchase, while you are still in the process of selling your HDB flat or private property. This is generally a short term loan with a maximum loan tenure of 6 months.
Cons I will say is the interest that you have to pay.
But the pros is to allow you to purchase the next property without having to wait for your sales proceed, easing your cash flow. Especially if you have already seen a property that you like, you can make a decision to purchase it and do not have to worry that it will be sold by the time you receive your sales proceed.
Terms and conditions do apply and I would advice you to speak to a banker first. I will gladly provide you with contacts of your preferred bank.
Regards,
Vera Wang
H/P No.: 8777 7907 Read More
Hi Ms Andin,
Thanks for your query!
The basic function of a bridging loan would be to facilitate the downpayment of your next property purchase, without having to wait on your sales proceeds from the concurrent unit sale, which is deemed as short term loan. The only drawback would be the interest accrued, however, the benefits of having an ease of cash flow easily outweighs the nominal interest sum. Perhaps I could go over this in greater depth to ensure you fully understand the procedure.
Are you looking at an EC purchase? Perhaps you can share more on your requirements and budget so that I can advise on which EC will best fit your property portfolio. There are numerous ECs with unsold units coupled with the fact that the next 6 months will witness EC new launches. My company is handling ALL the ECs in Singapore, hence I have the complete inventory of unit and pricing details with latest information of launch dates/ discounts etc.
What we can do in present moment is to work out the progressive payment and financial cash calculations to advise which ECs have a greater scope of appreciation, to maximize your interest and capital. It would be best to engage in an interactive discussion so that I can shed some insights to the market and offer a preliminary overview of high yield projects. This is to be followed by a price chart analysis of ECs island-wide AND compressive sales report with live sales transactions to aid your understanding. Purchase of an EC is an intricate process; not only limited to selection of units, but also primary focus on the utilization of CPF/ disbursement of funds etc. Allow me to run you through step by step on the procedural framework at no obligation! Furthermore, NO agent fees is involved! Hence, my consultation and services comes at no cost, yet your interest and welfare is protected.
D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
P Group
2015 Feb/ April/May ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More
Thanks for your query!
The basic function of a bridging loan would be to facilitate the downpayment of your next property purchase, without having to wait on your sales proceeds from the concurrent unit sale, which is deemed as short term loan. The only drawback would be the interest accrued, however, the benefits of having an ease of cash flow easily outweighs the nominal interest sum. Perhaps I could go over this in greater depth to ensure you fully understand the procedure.
Are you looking at an EC purchase? Perhaps you can share more on your requirements and budget so that I can advise on which EC will best fit your property portfolio. There are numerous ECs with unsold units coupled with the fact that the next 6 months will witness EC new launches. My company is handling ALL the ECs in Singapore, hence I have the complete inventory of unit and pricing details with latest information of launch dates/ discounts etc.
What we can do in present moment is to work out the progressive payment and financial cash calculations to advise which ECs have a greater scope of appreciation, to maximize your interest and capital. It would be best to engage in an interactive discussion so that I can shed some insights to the market and offer a preliminary overview of high yield projects. This is to be followed by a price chart analysis of ECs island-wide AND compressive sales report with live sales transactions to aid your understanding. Purchase of an EC is an intricate process; not only limited to selection of units, but also primary focus on the utilization of CPF/ disbursement of funds etc. Allow me to run you through step by step on the procedural framework at no obligation! Furthermore, NO agent fees is involved! Hence, my consultation and services comes at no cost, yet your interest and welfare is protected.
D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
P Group
2015 Feb/ April/May ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More