When you’re sitting watching TV with your child, it’s easy to forget about the world. Nothing else exists in that moment except you and your little one and whatever crazy cartoon they’re into at the moment. Of course, we all know that those little tykes grow up, and then they want a car, a job, a college degree and a house to themselves. Right now, that seems a million years away, but right now is exactly when you need to be thinking about this stuff. If you’re looking to safeguard their future, you need to invest, and a great way to do that is through a bridging load. If you don’t know what that is, don’t worry, we’ve got bridging explained here.
– What Is It?
A bridging loan is a type of interim payment which you can use between things to put into a business idea, or to invest in stocks, or even to boost your equity for a new home. You can use your current property as an asset and borrow up to seventy percent of the value. That cash is then immediately deposited in your account to be used as you see fit. Although they’re very handy, they are designed to be short term, so you will need to pay it back within a few months, or perhaps up to a year, depending on what you arrange. It’s short, but it’s also quick and easy and gets you that money you need now; there is also more info here.
– What Would I Use It For?
You can use this money for whatever you want: pre-school for your child, uniforms, books, a refurbishment of the house, investing, anything you want. It’s yours. Just remember the golden rule in loans: don’t put it into something that won’t pay back. Of course, your child’s early education is massively important. If you use it for that, you’ll see the benefits way down the live. Alternately, if you use it for stocks, you could see a return within the year which you can use for even more investment.
– What’s the Catch?
Naturally, this isn’t perfect. It’s short term, so you’ll have to pay it back quite quickly. There are some admin fees at the start, so expect to pay a small bit there. However, the benefits far outweigh any negatives. It’s easy to obtain, flexible to use and there are typically no fees for paying it back early. If you’re stuck or in need of some cash right now for an opportunity, then you need to look into a bridging loan.