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.

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.