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Handicrafts are devices or works of art that are made completely by hand or by the use of relatively simple tools. Such goods are usually made in the traditional way of manufacturing goods. Therefore, the knowledge of the art of craft is usually passed down from one generation to another. The items made using these traditional methods of manufacturing are usually produced in smaller quantities and they often represent the culture or religious beliefs of the community that makes them. The goods are also handmade from natural materials that are found in the environment of the particular economy.

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A painting is equal to thousand words, means a beautiful painting is equal to million of words. Paintings are one of the oldest art forms -- throughout history artists have played an important role in documenting social movements, spiritual beliefs and general life and culture.

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In the world of Beads, Silver Beads have its own stand. From the day of discovery of silver and man’s knowledge of working with metal, man has been using silver as raw material for jewellery. Its magnificent metallic lustre and high ductility as well as malleability make it appropriate for making jewellery. Also it is stable in air and water so it do not get degrade easily. Another argue of using it as raw material in jewellery...

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Silver jewelry is widely seen as the most widely used jewelry available on the market. They are offer in various styles as well as colors. Since it has been produce into exclusive designs, a number of fashion enthusiasts really enjoy it. In many cases, someone needs silver jewelry to beautify their gorgeous dresses. Even though there are many different kinds of silver decorations on the market, you have to be thoroughly careful when preferring one on your…

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What You Should Know About Bridging Loans

Posted by Art Of Legend India [dot] Com On 10:34 PM
Bridging Loans
Short Summary: A bridging loan is a short-term loan but unlike payday loans they are usually taken out for a longer term and are also secured.

A bridging loan is a short-term loan but unlike payday loans they are usually taken out for a longer term and are also secured.

They’ve definitely become popular in recent years while banks and other sources of lending such as building societies have clamped down.

They are usually much faster to arrange than a normal loan too. This often makes a big difference for business negotiations.

When are Bridging Loans used for?

A bridging loan is commonly loaned to help with the gap between selling a buying another property. But they are also popular when you are renovating a property or you want to buy at auction. The facility is there when a quick loan is needed for a short period of time.

How are these loans secured?

They are usually secured against a property. The sale or eventual mortgage of the property is what is known as the ‘exit route’. So you need to be sure that your exit route is as certain as it can be.

Property developers and landlords often find that in the interim period of purchase and renovation they cannot secure a mortgage until the property is made good. Or they plan to sell-on. These are typical cases where a bridging loan might come into play.

Other reasons why people take out bridging loans include
  • To bridge the gap between selling and buying when you are stuck in a property chain
  • Buying at auction
  • Needing a quick completion of a purchase to make the most of a good price
  • Sometimes to clear debts but remember you must have that exit route in place
These loans are sometimes offered to those who are ‘asset-rich’ i.e. plenty of equity in their property or properties and need a loan to upgrade the building.

Commercial mortgages

If you are waiting for approval of a commercial mortgage, bridging loans can help out.

Of course depending on the property you are trying to mortgage, make sure you think carefully before you take out a bridging loan. They are usually more expensive and if the building doesn’t get the full mortgage you could be left paying heavily for the shortfall.

Finding a broker

Why do you need a broker for a bridging loan? Well just like sourcing the best mortgage or insurance policy, a bridging loan broker does all the hard work for you.

A good broker will look at what you want or need to borrow, for how long and for what purpose. They will then take a look at lenders including traditional sources such as banks and building societies. They will recommend the source lender who offers the best deal for you.

Look for a broker who deals with bridging loans specifically and preferably who is registered with one of the professional organisations such as the Association of Bridging Professionals. They only should only recommend a reputable lender, but be sure that they are a member of the FSA (Financial Services Agency).

Check the rate of borrowing, the brokerage fees, legal fees and the fees you will have to pay at the end of the term. Basically make sure you check out how much your Bridging Loan will cost you.

Rob Rudd writes regularly for the finance sector and specialises in loans. You are likely to find him talking about the pros and cons of all of the different types of short term loans.

Visit Also: 

Aha oe Feii (What Are You Jealous), 1892

Antes del bano [Before Bathing], 1909

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Company Overview

Art of Legend India has the distinction of being one of the best in the Indian Handicraft Industry. We are about 75 years old handicrafts manufacturer & exporter. We are having team of more than 500 craftsman.

We are having our business offices in India, USA & Germany to ensure our best services.