The perfect short-term finance solution
Bridging Loans
Using the bridging loan calculator not only gives us an indication of the costs associated with bridging loans but also enables us to do the necessary research and identify the best available bridging loan deal. There are no preliminary credit checks.
Donkey Finance offers a quick and easy way to compare and secure the best bridging loans. We match you with competitive interest rates from top banks and lenders, ensuring you get the funding you need without any upfront fees.
An explanation of how bridging loans work
You can buy a new house using a bridging loan without selling your existing one, but the interest rates are usually higher than with a traditional mortgage. We can show you how a bridging loan works to help you understand the merits and cons of these loans better.
How a bridging loan can be used
Here are some times where bridging loans can be helpful:
- Before you sell your old home, find a new location to reside.
- You need money to build or fix up a house.
- Buying real estate at an auction.
- Taking care of cash flow problems right away.
- Making payments on schedule to avoid foreclosure.
Most of the time, you’ll need to work with a loan broker to get a bridge loan because most bridging loan providers don’t work directly with people. Most high-street banks have distinct departments that deal with bridge loans, which can only be gotten through brokers.
We can find the best price on a bridging loan by using the bridging loan calculator to figure out how much it will cost.
There are no initial credit checks.
Typical costs based on 0.55% rates over 12 months
| Bridging Loan Amount | Repayment Amount (excluding broker fees etc) |
|---|---|
| £50,000 | £59,254 |
| £60,000 | £70,148 |
| £70,000 | £81,042 |
| £80,000 | £91,936 |
| £90,000 | £102,829 |
| £100,000 | £113,723 |
| £110,000 | £124,836 |
| £120,000 | £135,948 |
| £130,000 | £147,060 |
| £140,000 | £158,172 |
Bridging loans: examples and criteria
You need to know how bridging loans work and what the requirements are. Your credit score, salary, and the value of your property are some of the things that affect how much you can borrow. The length of these loans might be different, but they are usually short-term, lasting up to 12 months. The type of property is also important. Most lenders only take houses and bungalows as collateral, although some may accept other forms of property. You can make an appointment online with one of our experts to talk about your options in more detail if you need help.
Use our loan search engine to see how interest rates on bridging loans compare to those offered by high-street banks and other lenders:
