Our Bridging loan calculator is intended to give you a rough estimate on the repayment amounts, the interest that is charged in your We have the most competitive pricing available to help you bridge the finance needed when moving homes.
We have direct lenders access to independent lenders to facilitate your Bridging finance application. Direct access to bridging finance underwriters is crucial when undertaking the necessary steps to finance. There are no broker fees involved when applying.
Bridging loans are loan advances that will help you on a short-term basis. Bridging finance has terms between 1 to 4 years. It is typically taken out for a period of 1 to 3 or, 4 more years and aforementioned all depends on the arrangement of the other larger or smaller longer-term financing available. Use our bridging calculator below to work out what you can borrow and the costs involved. Bridging loans are intended to help people purchase the desired property before actually selling their current property. It helps to minimize the time taken from selling your property to when the new home mortgage is due for repayment. It is ideal for those with a chain. Bridging finance is used as short-term and may have a higher rate of interest as opposed to other finances available, such as mortgages or, commercial mortgages.
Bridging loans can help you as you wish to buy your property at an auction. As you may be aware, buying properties in an auction requires immediate finance to hold the property when you win. Normally, a 6-7% deposit is needed upon winning the property auction and you may have a 1-month timeframe to complete the purchase.
Property auctions are fast moving and you may save a lot on the price compared to buying from private sellers or agents. Direct mortgage lenders may require your property to be in a habitable state before they can offer the mortgage. Most of the time, property auctions auction homes that may need refurbishment in order to satisfy the lender's criteria to lend. Therefore, bridging loans will help you with this.
Bridging Finance Companies such as us, tend to go the extent in finding out which product is suitable for your specific situation. We tailor make a product to help you progress in your purchase(s). Our rates are very competitive and have a fast turnaround.
There are some bridging loan providers who do not offer the loan to value (LTV) to suit your circumstances. You have a deposit as low as 10%, terms and conditions and full application applies.
Have a look at our bridging loan rates table below. This will give you an indication of the bridging interest rates that are applicable. The following table of rates is based on an example borrowing of £100,000.
|Loan Amount||Interest Rate % (APR)||Tenure (Loan Term)|
|Variable interest rates 0.37% to 1.50% APR.||
From 1 to 4 Years
Borrow between 1 up to 4 years
Bridging finance lenders in the UK who are direct are hard to find, even those who have close relations to loan providers are very small. We can help you in your bridging needs. Although some bridging finance lenders may look into your other assets you may hold, other finances.
Bridge loan financing are loan products specially desgined for those wanting to borrow money on a short-term basis in order to secure a purchase of a property without having to wait to sell your own in time. Loan financing from £20,000 to £2,000,000 available and up to 36 months.
|Interest Rate||Monthly Interest|
There are a wide-range of 80, 75%, mortgages and bridging loans, financing available with great interest rates for those looking for a short-term mortgage to bridge the gap till their new mortgage starts. Loan amounts are subjected to a full application assessment. Loan to value from 100LTV, 85LTV and 75LTV
Bridge Loans for Home Purchase is available and is a perfect reason to use a bridge loan other than the obvious reasons to borrow such a short-term bridge loan. We can help you with the product finder, fees, and costs when taking out a bridging loan. Purchasing a home when you haven't yet sold your current home, is a problem that can be solved by using a Bridge Loan.
We found that high street lenders or banks, are not for everyone. They may not offer bridging loans that suit your financial situation for the term needed. This is where SelectFinance steps in, to help you in get out of any difficulties you may face.