Bridging Loan Calculator
A bridging loan is a short-term loan that is used to bridge the gap between two sources of funding. For example, you might use a bridging loan to cover the costs of buying a property while you wait for your mortgage to be approved. Or, you might use a bridging loan to fund a business expansion while you wait for your next round of funding to come through.
Bridging loans are typically more expensive than traditional loans, but they can be a lifesaver in a pinch. If you need access to cash quickly, a bridging loan can be a good option.
To use our bridging loan calculator, simply enter the following information:
The amount of money you need to borrow
The term of the loan (how long you need the money for)
The interest rate
The calculator will then give you an estimate of your monthly repayments.
It's important to remember that the calculator is just an estimate. Your actual repayments may be different. The best way to find out how much you will pay for a bridging loan is to speak to a lender.
When choosing a bridging lender, it's important to compare the different deals available. You should also make sure that the lender you choose is regulated by the Financial Conduct Authority (FCA).
Bridging loans can be a great way to access cash quickly, but they are not without risks. You should only use a bridging loan if you are sure that you can afford the repayments.
Here are some additional things to consider when getting a bridging loan:
The interest rate: Bridging loans typically have higher interest rates than traditional loans.
The fees: Bridging lenders may charge fees for arranging the loan, setting up the loan, and early repayment.
The term: Bridging loans are typically short-term loans, with terms of 6 to 12 months.
The security: Bridging lenders may require security for the loan, such as a property or shares.
If you are considering getting a bridging loan, it's important to do your research and understand the risks involved. This will help you make the best decision for your financial future.