Looking for short term finance to purchase a property?
Use our bridging loan calculator to get an indicative quote.
We will send this to your email and mobile for future reference.
The fields above make certain assumptions. The good news is that you can change the rate of interest in line with the loan to value you require using the rates mentioned above to give you a more accurate indicative quote.
Please note that if you enter a 12 month term for the loan the overall cost will assume that you pay interest over the full term. It is often the case that bridge loans are paid off before the full term - as mentioned above you only pay for the time you use the loan.
A bridging loan is secured finance and the cost of it will depend on a number of factors.
These factors include:
Loan to value - this is the ratio of total borrowing to total property value. The lower the LTV generally the lower the rate of interest you will pay on the loan. If more than one property is involved securing a bridging loan over two properties may allow you to reduce the loan to value and therefore the overall cost of the loan.
Property location - This is a factor, particularly for properties in more remote areas of the UK. This is particularly true of north Scotland and Northern Ireland when it comes to residential property purchase. The more remote the property the more risk there is to a lender that you may not be able to provide an exit for the bridging finance so this may be reflected in the interest rate you pay.
Regulated or unregulated? - If the property is for personal use then it will fall under regulated lending governed by the FCA (Financial Conduct Authority). There are fewer regulated lenders in the market so in certain situations your options may be more limited. Regulated lending is highly competitive so the good news for borrowers for loan to values below 60% the rates currently are as low as they ever have been.
Legal Costs - A bridging loan transaction like a mortgage requires solicitors to complete the legal charge paperwork. The lender will have their own solicitor who will have their fees and you will also be required to have a solicitor to represent you. Solcitor costs can vary, and will depend on the complexity of the transaction.Some bridging lenders provide dual representation which can reduce the overall cost.
Survey fees - As with any loan secured lending on an asset the lender will generally want an independent valuation. Most UK bridging loan lenders will appoint a surveyor from an agreed panel. The cost will depend on the lender but most work to a scale based on property value.
Interest depending on the bridging finance provider can be calculated in different ways.
We work with lenders where you have the option of rolling up the interest on the loan so there is no requirement to service the loan.
This can be very attractive for cash flow. In this situation interest is added to the loan balance every month.
When you pay off the loan the redemption repayment will comprise of the original capital and the accrued monthly interest.
For a personalised quotation please call our bridging team on 0117 959 5094
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Chantelle S
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
Myr B
Sam O'Neil, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
Myr B
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
C Jefferey
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
Mr Morris
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
Charles N
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.
Rowena C
I have received fantastic service from your company from my first moment of contact. Adam Arnott has been dealing with my application and has kept me informed throughout the normally stressful process.
John H
