Bridging loans are often used for house purchases where short-term finance is needed to complete the deal. Bridging finance can often be arranged in a matter of days with loan terms up to 18 months commonly available.
Our free bridging loan calculator makes it quick and simple to find the most affordable interest rates and fees on bridging finance. All you have to do is share some basic details about your borrowing needs and personal circumstances. We will then find you the best deal on a bridging loan for your house purchase from across the whole market.
Bridging loans are popular for house purchases for a number of reasons.
With a bridging loan you can:
Access large amounts of capital fast
Get loan terms of up to 18 months (longer in some cases)
Repay early if necessary
Apply for extra features such as a drawdown facility (meaning you only pay interest on the money you have actually used for far) and rolled-up interest) allowing you to repay all of your interest in one go when the loan term ends)
The cost of a bridging loan for a house purchase will depend on a number of things. These include:
How much you need to borrow
What period you want to repay over
Your Loan to Value ratio (LTV)
Your credit history
How much debt you already have
You will commonly pay:
An arrangement fee (for taking out the loan)
An exit fee (when you repay the loan – although some lenders do not charge this)
Interest (either charged monthly or at the end of the loan term)
Don’t forget to try our free bridging loan calculator to find the very best deals on bridging finance to match your borrowing needs and personal circumstances.
Looking for bridging loans for a house purchase? Get in touch with our friendly expert team of loan brokers using the contact form on the right or by calling 0117 313 6058.
For a FREE initial conversation about your mortgage options complete our short enquiry form.
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Fair Mortgages Limited is an appointed representative of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority.