There are many types of bridging finance available and security properties that can be considered. Variables such as these will have an effect on the bridge loan interest rate you attract, including whether the loan is a first charge or a second charge.
If you think you have found the right bridging loan product, you can input the interest rate, bridge loan amount, and loan term into our bridging loan calculator, which will then calculate your monthly interest payment and the total interest that will be paid for the duration of the loan. You can also add any broker fee, arrangement fee, and admin fee amounts to calculate your estimated day one net loan.
At this stage, it is worth noting that a property bridging loan in the UK or beyond, unlike other forms of property finance such as a mortgage, does not typically attract any early repayment charges after the first three months.