Bridging Loan Calculator
Net Loan (£) :
|Valuation fees:||£300 min|
|Lender's admin fee:||£350|
|Lender's legal costs:||£850|
|Telegraphic transfer fee:||£35|
|Redemption admin fee:||£100|
A bridging finance calculator has a number of uses, and by inputting your data correctly, you will be able to see exactly what you can afford to borrow, and what your repayments will be. This way, you know immediately whether a bridging loan is going to be something that will help you out financially or cause you problems with repayments (and whether you will be able to borrow enough to do what you need to do).
One of the reasons you might need a bridging loan, for example, is if your chain breaks down during a house sale. Imagine if you have found your dream home, and it is everything you want, in your budget. Your home is under offer, you put an offer in and it is accepted. But then the unthinkable happens, and for whatever reason your buyer pulls out.
In this scenario, you could easily lose the house you want to buy. A broken chain isn’t quickly mended. However, if you can obtain a bridging loan, all is not lost. Even though you might not be able to complete the chain without a buyer for your property, the chain can be fixed with a bridging loan.
This short term loan ensures that you can buy the property you want as a cash buyer, and then repay the loan when your old house sells. You can then take complete control of the situation, get the house that you want, and not have to worry about paying two mortgages, or even the loan itself until the end of the term, by which time you will have sold your property.
You will need to use a bridging finance calculator to make sure that all the figures add up, but if they do, and it means you can still buy that ideal house, it is certainly worth considering.
Get the Real Facts
We encourage our clients to do their own research and be informed. In fact, we think it is a good idea to spend a minute or two with a bridging finance calculator so you are prepared for the general figures that might be involved with a particular transaction. However, if you need a bridge loan or short-term funding that is accurate and efficient, then please contact us and let us help you obtain accurate information that will actually accomplish your goals.
Every real estate transaction involves serious financial consequences and it is crucial you deal with a finance provider that can deliver the real facts.
Bridging Finance Calculator
Our bridging finance calculator will give you an estimation of how much bridging loan can be secured against any residential or commercial property, such as houses or corporate premises. BridgingFinance4U allows you to offer privately owned, buy-to-let, holiday homes or other investment properties as security. The bridge finance calculator you see on this page will give you detailed information about interest charges, lender’s admin fees, valuation fees and other costs associated with the bridging loan that acquires residential property for security.
We have designed bridging loan calculator to provide the most accurate possible details about the total cost of a bridging loan facility for your specific term period. However, we would like to mention that the cost you see here shouldn’t be considered final. The final amount may vary a little based on the type of property. The calculations are based on our common lending plans, so please contact us and one of our executives will guide you with accurate cost and loan approval.
Valuation fee: The valuation fees vary based on the type and value of the property that is being used as security. The valuation fees are directly paid to the surveyor or lender.
Administration fee: The administration fee is the fixed amount that is charged only when the loan is approved.
Redemption fee: You will be charged with a redemption fee by the lender, which is a legal cost of removing their charge from the property given as security.
At BridgingFinance4U, our bridge finance calculator is designed to give you an approximate value of all the charges associated with short-term bridging loans. The rate of interest varies between lenders. However, being an independently owned company, we always strive to provide you with the most competitive financial deal. Contact us anytime and we will provide detailed quotes of all the costs associated with the bridging loan you require.