Call Now: 0800 138 6001 - Open 24/7

Call Now: 0800 138 6001 - Open 24/7

Bridging Loan Calculator

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Compare and Calculate Bridging Loans

Our unique Bridging loan calculator is available to give you a reasonable indication of what your overall costs are likely to be when taking out your bridging loan.

Simply enter the details of the loan amount and estimated property value into the Bridging Loan calculator.

Bridging Loan Calculator

Compare and Calculate Bridging Loans

Our unique Bridging loan calculator is available to give you a reasonable indication of what your overall costs are likely to be when taking out your bridging loan.

Simply enter the details of the loan amount and estimated property value into the Bridging Loan calculator.

Calculate Bridging Loan Rates

Our bridging loan calculator allows you to work out the monthly cost of your bridging finance and also the total amount of interest charged over the term of your loan, including what is likely to be your monthly payments.

Although a bridging loan is considered to be short-term finance, most Bridging Loans are taken out for a period of 12 months, giving plenty of time to sell or refinance your existing property.

As it doesn’t cost any more in fees to take a 12-month loan there is no advantage to going for a 3 or 6-month period. As you see if you use our bridging loan calculator the fees are the same for 6 or twelve months.

Furthermore, the loan rate will also be the same no matter what the loan period is, as such we would always advise that you take the longer period, which will then give you ample time to get the loan repaid. Property sales can be unpredictable and situations that you think are going to take a few weeks can easily run into a few months and before you know it you are being asked to redeem the loan, the other thing is if you need to extend the loan a lender will want another arrangement fee, so if you went for 6 months and then needed to extend again to 12 months it would cost you double the arrangement fees.

Interest is usually rolled up which means you do not pay for it monthly, it is taken out of the loan based on the loan term. Once you pay the loan back a calculation is made based on the number of days the loan had been outstanding, this is called a daily rate, this is the interest you will be charged. It works like this a £100,000 Bridging Loan with a 6% interest rate would be equal to £6,000 if the total loan was outstanding for 12 months, £6,000 divided by 365 days gives a daily interest rate of £16.44 therefore if your loan was outstanding for 100 days and then repaid, the total interest chargeable to you would be 100 days x £16.44 meaning total interest payable of £1,644.00.

In addition to interest you will have to factor in an arrangement fee which is typically 1-2 percent of the agreed loan amount, as mentioned previously, the arrangement fee is not based on the loan term, it matters not if the loan is for 3,6 or 12 months the arrangement fee you pay will be exactly the same  so there is no benefit in taking out the loan for a lesser period of time, as seen above you will only ever be paying interest on the total outstanding loan.

You will also have to factor in legal fee costs for the lender’s solicitors and also for your own, these are usually based on the loan amount and can be agreed before any solicitors have been instructed to do any work.

The other cost you will need to factor in is for a surveyors valuation. Valuation costs are normally from £100-£150 per £100,000 of the properties valuation. So if the property is valued at £250,000 the valuation fees would come in at around £250-£375. As with legal fees you should get a quote from the Surveyors before any instructions are made for them to act for you.

Bridging loan terms can be anything from 1-18 months, although most lenders start off with a 12-month term and then look to extend it if required. Our Bridging Loan Calculators can work out your repayment terms of any period of time, you can use it to work out what your total costs are likely to be over any given number of months and also at different interest rates.

Simply enter the amount you wish to borrow and the interest rate, we will then give details of what your monthly interest rate will be and the total amount payable over the life of the loan.

Note interest payments are rolled up so you do not have to make a monthly payment it is taken out of the loan amount. You only pay interest on the days the loan is outstanding.

Disclaimer you should always check with the lender to make sure your rates are correct, these calculators are for guidance only. You must enter the term in months and the reading will show both monthly payments to be made and the total amount to be paid in interest over the course of the loan.

Remember debts against your home and debts secured against a property can mean a home may be repossessed, Top 10 Finance Ltd is authorised and regulated by the Financial Conduct Authority.

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Bridging Loans Calculator

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Use our Bridging Loan Calculator, to calculate and compare bridging loans from all of the lenders in the UK. Get the best rates- guaranteed!

All rates are updated daily.

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Bridging Loans Calculator

We compare all of the UK’s Bridging Finance Lenders for you, with over 100 lenders you need to know you are getting the best rates and deals.

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Top 10 Finance Ltd, Rex House 4-12 Regent Street, London, SW1Y 4PE. Tel: 0800 138 6001

Top 10 Finance Ltd is authorised by The Financial Conduct Authority (FCA) no 725234 The FCA Think Carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Data Protection Act (1998). Registration No: Z2861884 Company Number 06261373 Top 10 Finance Rex House 4th Floor 4-12 Regent Street London SW1Y 4PE (c) 2007 - 2018 Top 10 Finance. Sitemap - Privacy Policy - Reviews - Contact Top 10 Finance - Blog

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