DO’S
• Do shop around and look for the ideal bridging finance lender.
• Compare and compare. Different lenders offer different interest rate as well as loan amount. So, it is always a good practice to compare the proposals by various loan lenders.
• Do check the past history of the commercial bridging loan lender, you can ask for the case histories. This will give you a fair idea of his work ethics and his effectiveness as a lender.
• Think before you actually take up a loan because what ever is taken up will eventually have to be paid off. Analyze the complete situation one more time and be sure that what time will take you to repay the loan. As the interest generate on the monthly basis.
DONT'S
• Do not take up the bridging loan over and above your actual needs, because later it will be shunned out of your pocket only.
• Do not forget to read the contract thoroughly. Never avoid the small prints as they may carry certain conditions will you want not want to agree. So read every bit of the contract and only then sign the document.
• And last but not the least never forget to repay your bridge loan on time. The extend in the period of the loan results in mounting up the money to be returned
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