Bridging Loan Calculator: 0.55% Rate

Our online bridging loan calculator is designed to make it quick and simple for you to estimate how much you can anticipate paying as a bridging loan customer.

Select Type

Standard Refurb 2nd Charge

Required term

1 Month 2 Months 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months 9 Months 10 Months 11 Months 12 Months 13 Months 14 Months 15 Months 16 Months 17 Months 18 Months 19 Months 20 Months 21 Months 22 Months 23 Months 24 Months

The amount of months you require the loan for.

Number of Security Properties *

1 Property 2 Properties 3 Properties 4 Properties 5 Properties

This is the number of properties that you will be using as security for the loan i.e. if you are looking to buy a new property prior to your current property selling it may be more beneficial to put the charge for the bridging loan across both properties to get the best possible rate. The lower the LTV or loan size against the value of the security, the better the rate.

Valuation of Security Property 1 *

£

This is the market value of the property that you would be securing the bridging loan on.

Total Valuation

£

Net/actual loan amount required *

£

The net bridging loan amount that you require not including any fees or rolled payments ups etc.

Broker fee

£

Total initial loan

£

Lender fee (standard is 2%)

£

Assessment fee (standard is £295)

£

This is the amount the lender adds onto the loan to check the case.

Telegraphic transfer (standard is £35)

£

Fee charged by the lender for transferring the funds to your solicitors bank account prior to completion.

Total Loan

£

Any remaining current borrowing
(for second charges only)

£

If you have a mortgage which you wish to keep and as such you are looking for a second charge on the property we need to know the amount of the outstanding mortgage balance as this will determine the LTV.

Calculator Results

• • Months	Monthly Interest Generates	Total Accumulated Loan	Average Monthly Interest
    Month 1	£0.00	£0.00	£0.00
    Month 2	£0.00	£0.00	£0.00
    Month 3	£0.00	£0.00	£0.00
    Month 4	£0.00	£0.00	£0.00
    Month 5	£0.00	£0.00	£0.00
    Month 6	£0.00	£0.00	£0.00
    Month 7	£0.00	£0.00	£0.00
    Month 8	£0.00	£0.00	£0.00
    Month 9	£0.00	£0.00	£0.00
    Month 10	£0.00	£0.00	£0.00
    Month 11	£0.00	£0.00	£0.00
    Month 12	£0.00	£0.00	£0.00
    Month 13	£0.00	£0.00	£0.00
    Month 14	£0.00	£0.00	£0.00
    Month 15	£0.00	£0.00	£0.00
    Month 15	£0.00	£0.00	£0.00
    Month 17	£0.00	£0.00	£0.00
    Month 18	£0.00	£0.00	£0.00
    Month 19	£0.00	£0.00	£0.00
    Month 20	£0.00	£0.00	£0.00
    Month 21	£0.00	£0.00	£0.00
    Month 22	£0.00	£0.00	£0.00
    Month 23	£0.00	£0.00	£0.00
    Month 24	£0.00	£0.00	£0.00

Months	Monthly interest generated	Total accumulated loan	Average monthly interest
24	0.00	0.00	0.00

Initial LTV

%

Final LTV

%

Interest rate chargeable

%

Total interest charged over the required term

£

Any remaining current borrowing
(for second charges only)

£

Total to payback at end of required term

£

Other Fees

Estimated Valuation Fee

Security Property 1 Valuation Fee

£

Security Property 2 Valuation Fee

£

Security Property 3 Valuation Fee

£

Security Property 4 Valuation Fee

£

Security Property 5 Valuation Fee

£

Total Estimated Valuation Fee

£

Estimated Legal Fees

Separate Dual

Separate- the lender will be using one solicitor and you will be using another. Dual - all the legal requirements for both sides will be handled by the same legal practice

Dual Legal fees(incl VAT)(add £100 only)

£

2nd property
(add £100 only)

3nd property
(add £100 only)

4nd property
(add £100 only)

5nd property
(add £100 only)

Total Estimated Legal Fees
(£100 added for each additional property)

£

***** Rates quoted are subject to status
***** Early repayment charges may apply on certain products
***** Prices quoted on these sheets are not liable for VAT

If you are struggling to obtain a quote or would like to discuss your quote, please get in touch or call us on 0116 402 7982

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Calculations Select Type Required term Number of security properties Valuation of Security Property 1 Valuation of Security Property 2 Valuation of Security Property 3 Valuation of Security Property 4 Valuation of Security Property 5 Total Valuation Net/actual loan amount required Broker fee Total initial loan Lender fee (standard is 2%) Assessment fee (standard is £295) Telegraphic transfer (standard is £35) Total Loan Any remaining current borrowing (for second charges only) Calculator Results Initial LTV Final LTV Interest rate chargeable Average Monthly Interest

Total interest charged over the required term Any remaining current borrowing (for second charges only) Total to payback at end of required term

Other Fees

Estimated Valuation Fee Security Property 1 Valuation Fee Security Property 2 Valuation Fee Security Property 3 Valuation Fee Security Property 4 Valuation Fee Security Property 5 Valuation Fee Total Estimated Valuation Fee

Estimated Legal Fees Dual Legal fees(incl VAT) 2nd property (add £100 only) 3nd property (add £100 only) 4nd property (add £100 only) 5nd property (add £100 only) Total Estimated Legal Fees(£100 added for each additional property)

If you are struggling to obtain a quote or would like to discuss your quote, please get in touch or call us on 0116 464 5544 In bridging finance, monthly payments are not normally required unless requested. Instead the borrower receives the net loan amount and on repayment of that loan also repays any interest generated whilst the loan was outstanding.

***** Rates quoted are subject to status ****** Early repayment charges may apply on certain products **** Prices quoted on these sheets are not liable for VAT

How to use a bridging loan calculator

Bridging loan rates and associated bridging loan fees vary significantly from one lender to the next, which is why a full market comparison should be conducted to ensure you get the best possible deal.

Use our exclusive bridging loan calculator for an overview of the costs of bridging finance, or call anytime for an obligation-free consultation and a more accurate quote.

This is how our bridging loan calculator works

Bridging loan calculators work by performing a series of calculations based on the information entered by the user. The main numbers needed to perform a bridging finance calculation include the following:

• How much money do you intend to borrow?
• Your preferred repayment period
• Value of the asset or assets used to secure the loan
• Choice of monthly interest or rolled-up interest
• Approximate monthly interest rate

However, there are additional fees and commissions payable on a bridging loan that are not typically covered by an automated bridging finance calculation. Each of the following will therefore need to be discussed with your broker before applying:

• Property valuation fees
• Administration fees
• Loan arrangement fees
• Early repayment fees
• Exit fees
• Legal fees

Broker fees and commissions should not apply, as they should be directed at the lender, not the applicant.

Cost analysis of a £100,000 bridging loan:

A bridging loan calculator is available to anyone

We highly urge anybody contemplating bridging credit for whatever reason to utilise a bridging loan calculator before applying to verify they can afford to repay the loan easily. Bridging financing has the potential to be a very cost-effective kind of short-term borrowing, but it can become costly if the loan is not fully returned by the agreed-upon date.

A bridging loan calculator should not be considered a 100% accurate or binding indication of actual bridging loan costs. A wide variety of additional factors may influence affordability or otherwise of bridging finance, all of which will be discussed with your broker during your initial consultation.

Bridging loan interest rate calculations

Interest rates vary depending on a number of contributing factors, but they typically range from roughly 0.4% per month to around 1.5% per month.

See below for a summary of the payable monthly interest based on a given rate (example is indicative of a £100k bridge over 12 months):

How do bridging loan interest calculations work?

Bridging loan providers employ various methods for calculating, applying, and offsetting interest. In most cases, the following principles hold true for the majority of our offerings:

Interest is compounded

Interest accrues monthly based on the outstanding balance. No immediate interest payments are necessary; instead, the monthly interest is added to the overall balance. Consequently, the balance grows each month due to compounded interest.

• Typically, loans span a 12-month term, with no penalties for early repayment.
• The shortest term feasible is one month (equivalent to 30 days), meaning interest accrues for the entire month if the loan is repaid within this timeframe.
• Beyond the initial month, interest is only calculated up to the day of repayment. For instance, if the loan is settled after 3 months and 10 days, the accrued interest would be for 3 full months plus a fraction representing the remaining 10 days of the month.

Repaying your bridging loan

Most bridging loan specialists are relatively flexible with regard to repayment period length. However, most limit their bridging products to a maximum of 18 to 24 months before full repayment is required.

Call us today for an obligation-free consultation to discuss your requirements and preferences in more detail.

Bridging Loan Eligibility

Bridging loans are designed for a specific group of borrowers seeking financial help with property purchases. Here's a brief summary of who qualifies:

• Eligible applicants include sole entrepreneurs, commercial ventures, and established corporations.
• Property Focus: Common uses include acquiring or upgrading residential or commercial buildings.
• Age Requirement: Most lenders need a minimum of 18 years old, although some may have a higher limit.
• UK residency: This requires having a registered address in the UK.
• Secured loans require collateral, often property.
• Exit Strategy is Important: A defined repayment strategy, such as selling the secured asset, obtaining long-term financing, or collecting anticipated income, is essential.
• Most lenders need a minimum loan amount of roughly £10,000.
• Employment: Your work position (employed, self-employed, or retired) is less important than the other factors indicated above.

Note: While credit history and income evidence may not be the most important elements, lenders may nonetheless consider them in some instances.

The Cost of a Bridging Loan Explained

Here's a summary of the costs often involved with a bridge loan.

• Administrative fee: This one-time cost, usually approximately £295, covers the processing and administration of the loan application. It's worth noting that this is only due if the loan is authorised and drawn.
• Valuation costs: These costs are based on numerous factors, including the value of the property, the location, and the type of report.
• Redemption Charge: This fee covers the legal costs of removing the lender's security charge on your property after you have repaid the loan.
• Solicitor Fees: The lender will engage a solicitor to handle legal issues such as loan contracts and property security. These legal expenses are the borrower's obligation.

Transparency from our end: There are no hidden fees! We do not charge broker fees, and our loans do not include any exit costs.

Remember that they are in addition to the loan interest rate. Consider these charges when calculating the overall cost of a bridging loan.