Bridging Loans Calculator
What is a Bridging Loan?
Bridging loans are short-term loans (usually offered over 12 months or less) used to fill gaps in funding when other types of finance are not available.
Common uses for bridging loans include buying property when a mortgage is not an option. This might be because you are moving home, but have not yet sold your old home, so still have a mortgage on it. Alternatively, the property you are buying might be unmortgageable because of its condition e.g. lack of a functional kitchen and bathroom.
A bridging loan will typically be secured against the property you are using it to buy, the same as with a mortgage. You will normally need to have an exit plan in place to repay the bridging loan when the loan term ends. An example of an exit plan is getting alternative finance such as a mortgage, or selling the property on.
Bridging loans tend to come with higher interest rates than mortgages, so it is important to shop around for the best deal possible to make your borrowing as affordable as possible.
Why use our Bridging Loan Calculator?
We offer a completely FREE bridging loan calculator that is both simple and easy to use. Our bridging loan calculator can assist you in:
- Estimating how much you might be able to borrow.
- Giving an estimate as to how much your repayments will be each month
- Finding how much you might be able to borrow without affecting your credit score
Our bridging loan calculator can help you to find the bridging loan that is right for you. In addition to giving you an accurate estimate as to how much you can borrow each month, it can also help you narrow down the bridging loan deals that are most suitable for your own personal circumstances.
Considerations when using our bridging loan calculator
Our bridge loan calculator can give you an indication of what kind of bridge loans you might be able to receive. However, it is important to take into consideration that this is only an indication and does not represent advice, or a guarantee that you will be offered a bridging loan on the conditions shown from the selected lenders.
Additionally, when calculating your bridging loan repayments using our bridging loan calculator, you should also factor in other costs such as arrangement fees, legal fees, surveys and valuations.
Need more personalised help? Use our specialist bridging loan brokers
Our independent bridging loan brokers can help with:
- Residential bridging loans from £50,000 to £25 million
- Loans term from 1 to 36 months
- Interest roll-up schemes
- Bridging loans for individuals, limited companies, sole traders and partnerships
- Whole of market service - we work directly with UK bridging lenders
- Finding the lowest rates - access leading bridging loan deals
- Fast turnarounds – access bridging finance in as little as 5 working days
- Mortgage solutions for when the bridging loan is no longer required
To investigate your residential bridging loan options, call our team on 0117 313 6058 or fill in our call back form.