Bridging loans for house purchase calculator
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.
Advantages of using bridging loans for house purchases
Bridging loans are popular for house purchases for a number of reasons.
With a bridging loan you can:
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Access large amounts of capital fast
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Get loan terms of up to 18 months (longer in some cases)
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Repay early if necessary
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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)
How much do bridging loans for house purchases cost?
The cost of a bridging loan for a house purchase will depend on a number of things. These include:
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How much you need to borrow
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What period you want to repay over
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Your Loan to Value ratio (LTV)
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Your credit history
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How much debt you already have
You will commonly pay:
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An arrangement fee (for taking out the loan)
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An exit fee (when you repay the loan – although some lenders do not charge this)
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Interest (either charged monthly or at the end of the loan term)
Try out free bridging loans for house purchase calculator
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.