Bridge Loan Calculator
Compare bridging loans with our bridge loan calculator
Looking for the best interest rates on bridge loans? Our bridge loan calculator offers a quick, simple way to compare deals on bridging finance from all the leading lenders. That means you can find the money you need at an affordable rate without a lot of stress and hassle.
What is a bridge loan?
Bridge loans (also known as bridging loans) are a short term finance option designed to allow borrowers to move forward with property purchases and other deals when other forms of finance are not available.
Bridge loans are normally offered over up to 12 months and can often be accessed within a matter of days. This makes them the ideal choice when speed is of the essence.
How much do bridge loans cost?
One thing to be aware of with bridge loans is that they can be more expensive than other types of borrowing, such as a mortgage. You therefore have to be careful to shop around and make sure you get the best deal you can to keep your costs down.
When taking out a bridge loan you will usually pay:
- An arrangement fee
- An exit fee (depending on the lender)
- Monthly interest
There are usually various options for paying the interest on bridging finance. Two of the most popular are 'rolled-up' interest, where you pay all of the interest in one go at the end of the loan term, and borrowing extra capital to cover the interest, so the costs are built into the loan.
How to apply for a bridge loan
Bridging loans are usually only available through intermediaries, such as loan brokers. They are generally offered by private banks and lenders, or by high street banks but, again, only through intermediaries.