Our Bridging Loan calculator enables you to quickly see, what sort of level of bridge loan you might get for your housing build / property extension. This calculator is primarily aimed at the UK finance lending market.
This calculator is for bridging loans that are secured against residential property, such as houses and flats. Residential property offered as security can be owner occupied, second/holiday homes, buy to lets and other investment property.
It quickly calculates how much deposit you might need, and the impact of if you have additional security you can offer upto the lender.
With additional security you may well get 100% of the purchase / land price AND 100% of the build costs.
The bridging loan calculator will help you work out how much initial funding you can get towards the land purchase and how much funding you will get towards the build costs.
It will also provide a guide to how much profit your project will make before and after interest and charges, and also the estimated ROI return on Investment that your building project will achieve.
The finance calculator is only for indicative purposes, and the actual finance offer will be subject to a valuation and some breakdown of your build costs to confirm the overall figure is broadly inline with typical build costs for that type of property / conversion.
Bridging finance is available for many different situations. The amount you can borrow depends on the value of the property/ security on offer.
Bridging Loans could be described as relatively short term “interest only” loans, usually setup for a maximum term of 12 months in length and normally do not require monthly payments.
You can combine more than one security property to enable you to obtain a larger loan amount. If you have a btl or investment property portfolio where the equity is spread over numerous properties, you may be able to secure on a range of the properties, enabling you to take out 100% funding.
Our online calculator will let you see instant results about the lenders fee’s set up fee’s and legal fee’s typically involved in a bridge loan. Also it will highlight they typical interest rates you might get on the loan depending upon if you are bridging a deal between purchases, or for a house extension or renovation or refurbishment. In addition the online instant calculator will show you the maximum loan amount available ( typically 75% of the property value at outset ), so knowing this you can reset expectations regarding how much you can borrow and over what time period.
You can use our bridging finance calculator to work out your typical costs, however, as mentioned before this will give you an outline on what your costs are going to be. Whilst this can be great initial information – its often better to get the hard facts on what you are proposing to do? what the LTV is? What is the security to be offered? using these pieces of information and knowing who would be the best lender for your circumstances.
Our advice is by all means get the outline of whats feasible from our Bridging Loan Rates Calculator, but then give us a quick call and within just a few minutes we can give your exact costings and a personalized quote, with specific information and fee’s including what interest rates you can get, what the arrangement fees would be, legal costs, and monthly payments or how rolled up interest works. At least that way you will then know exactly what your costs are going to be rather than just a guesstimate using a cost of bridging loan calculator. We work with all of the bridging loan lenders in the UK
Bridging loans are priced monthly, instead of annually, due to the fact that people tend to take them out for a short duration. One of the major disadvantages of a bridging loan is that they are fairly expensive: you could face charges of between 0.5% as well as 1.5% per month. That makes them much costlier than a typical domestic mortgage.
The calculator refers to gross loan and net loan figures. Although this can seem confusing at first, it is quite simple.