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Revolution Calculator for Bridging Finance Borrowing

Revolution Calculator for Bridging Finance Borrowing

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Bridging loan calculators can be a useful way to get a rough idea about what you could borrow - but since this form of lending is so tailored, it is impossible to make an application on the strength of an online tool.

If you'd like to explore bridging loan rates on the current market or work out how much you could borrow, give the Revolution team a call on 0330 304 3040 or email us at info@revolutionbrokers.co.uk.

The following topics are covered below:

How Do Bridging Loan Calculators Work?

What Information Can I Find From a Bridging Loan Calculator?

How is Interest on a Bridge Loan Calculated?

Expert Advice with Bridging Loan Calculations

How Do Bridging Loan Calculators Work?

Most generic calculators require you to enter a few pieces of information, such as:

  • How much you wish to borrow.
  • What the property is valued at.
  • How long you need the loan for.
  • What percentage lender fee you have been quoted.
  • The monthly interest rate you expect to pay.

For most applicants, this means making initial applications first to know what rates they might be charged - and applying to the wrong lender may mean you end up with rejected applications and credit checks on your file.

There are no published standard bridging loan rates since this type of lending is decided on a case-by-case basis, so the only way to get an idea of available rates, and compare different products, is to consult an independent bridging loan broker.

What Information Can I Find From a Bridging Loan Calculator?

You might come across a few different calculators with varying levels of detail - they might be designed to estimate:

  • Overall costs - loan value, interest, arrangement fees, valuation charges and legal costs.
  • Borrowing level - taking into account the value of the property and how much deposit you have available.

Some lenders might refer to a rates table, which helps them identify the right interest rate to apply to your loan - you cannot use this to work out what they might charge, because that decision depends on:

  • Your credit rating.
  • How much experience you have.
  • How stable they judge your exit strategy to be.

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How is Interest on a Bridge Loan Calculated?

Again, this all depends on the lender - and the method of collecting interest will depend on the deal you accept, and how long the loan term is.

There are three primary ways of accounting for the interest charges:

  • The monthly interest is paid directly to the lender every month, just like an interest-only mortgage.
  • Rolled interest is added to the loan total, with the original capital's full value plus the interest payable at the end of the term.
  • Retained interest is borrowed from the lender, and they calculate the total charges in advance, which become payable when the loan ends.

Expert Advice with Bridging Loan Calculations

Online calculators are useful, but they can only give a rough idea - and cannot consider your circumstances, the eligibility criteria of the lender, or how they will assess your application.

For help with comparing rates and funding competitive bridging finance, contact Revolution Finance Brokers on 0330 304 3040 or drop us a message to info@revolutionbrokers.co.uk.

Check out our handy calculators

Our quick mortgage calculators are designed to give you an indication of how much you can borrow and allow you to consider the different mortgage options available to you.
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FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature. We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

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