Why Use A Bridging Loan Calculator?
Bridging finance is an alternative form of lending to traditional mortgage finance that’s been gaining a lot of traction over recent years. We understand that for many customers simply exploring their options, in-person meetings and consultations aren’t always convenient.
If you think that you may potentially benefit from a bridging loan but are unaware of how they work, we’re here to help. We’re proud to offer a simplified yet dynamic bridging loans calculator, which can be used to help determine the terms and repayment schedule of your ideal loan with a quick and easy online quote.
After using our bridging loan cost calculator to determine the loan you’d like to apply for, you can get in touch with one of our financial advisors for advice and to discuss your application further.
Our team is available from 9am to 9pm throughout the week and can be contacted via live chat, email or telephone.
No Hidden Fees, No Nasty Surprises
Using a bridging finance calculator can be a great way of exploring the options available, before going ahead with your application. Our bridging loan rates calculator has been designed to help highlight all typical fees and charges, meaning no nasty surprises along the way. What’s more, using a bridging loan repayment calculator can help ensure you understand your repayment obligations in full.
What Is a Bridging Loan?
Bridging loans are used for short-term financing requirements, or when money in larger sums is needed quickly. Bridging loans are usually repaid within 12 months as the annual rate of interest is typically higher than standard high street rates – thus making bridging finance unsuitable for long-term loans.
Developers and investors have been using bridging loans for many years now, allowing them to take advantage of market conditions or undervalued investment opportunities. Being able to purchase a property quickly offers numerous advantages to the purchaser, such as negotiating the best price and beating competitors to the deal.
Other instances where bridging loans can be of unique value include:
- When buying a house without finalising your own house sale
- While building a home to be sold upon completion
- When looking to cover unexpected business expenses
- While waiting for pension payments in lump sums
- While establishing a new start-up from scratch
- When looking to redevelop or refurbish real estate
Use our exclusive bridge loan payment calculator to determine the perfect size and type of loan to suit your needs. After which, we’ll be happy to guide you through the rest of the application process.
No Credit Check, No Income
Bridging finance can be great for borrowers who may have problems with poor credit, or perhaps are without proof of income – including the unemployed. Just as long as the required security can be provided, bridging loans represent ideal commercial and residential solutions alike.
While terms and conditions vary significantly in accordance with the lender and the borrower’s requirements, bridging loans can represent a real lifeline vs mortgage options that may be inaccessible. Eligibility is determined on a case by case basis, with bad credit having little or no influence.
With the help of our bridge loan interest calculator, finding the perfect financial product to suit your needs couldn’t be easier.
The Purpose of Bridging Loans
An example of a popular and effective use of a bridging loan is when investors are looking to buy at auction (Use our auction finance calculator to determine your ideal loan).
Successful bidders being required to fully fund an auction purchase within 28 days. Failure to pay within the given timeframe may mean losing all or part of the 10% deposit placed on the property when the bid was accepted, along with the inability to buy property for a highly competitive price.
As bridging loans can be pre-approved, buyers can bid with confidence and with no deposit loss to worry about.
Use our bridging loans calculator today for a quick and easy estimate on the approximate costs for your ideal loan.