How much does a bridging loan cost?
Find affordable bridging loans
Bridging loans allow you to access large amounts of money at short notice, but they can be an expensive way to borrow if you are not careful. Lenders tend to charge relatively high interest rates on bridging loans, so it is important to shop around and get the best deal possible.
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If you are looking to get a great deal on your bridging loan, our expert team of brokers can help you:
- Compare top bridging finance deals from all the leading UK lenders
- Find the very best rates available from across the market
- Finding short term finance deals even if you have adverse credit and CCJs
For all the latest deals on short term finance, try our free bridging loan calculator or call us on 0117 313 8872.
Understanding the cost of bridging finance
A bridging loan may be your only option if you have a temporary hole in your finances, such as when buying a property at auction where you don’t have time to secure a traditional mortgage. As long as you find the right deal and manage your bridging finance correctly, it can be an affordable way to borrow.
When working out how much the loan will cost you need to bear in mind several key points:
- Bridging loans typically have higher rates of interest than other forms of secured borrowing
- There will likely be fees to pay, such as facility fees, administration fees and legal fees
- Some bridging loans may also charge an exit fee
- You may be charged a penalty fee if you do not repay your bridging loan within the agreed time period
Getting the right advice from an experienced specialist bridging loan advisor will make it much easier for you to get a good deal and help to ensure you don’t get caught out by any unexpected costs. That way you can get affordable short time finance quickly and efficiently.
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Benefits of bridging loans
With a short term bridging loan you can:
- Borrow from £50,000-£15million
- Access funds of up 70-75% LTV
- Secure loans against residential and commercial properties
- Borrow as an individual, limited company, sole trader or partnership
- Be considered for a 2nd, 3rd or even 4th charge loan on properties where you already have secured debt such as a mortgage
Get the best rates on bridging loans
Our bridging loan brokers are specialists at helping clients find the funding they need, when they need it, at a rate they can afford. To find out more, get in touch by calling 0117 313 8872 for a free initial consultation or use the contact form at the top of the page for a quick response.