Use our AI loan finder to get a better rate bridging loan than NatWest
NatWest Bridging Loan
Want a better rate than NatWest? Get an instant indicative repayment figure using our bridging loan calculator
Use our bridging loan calculator for quick rate comparisons with NatWest bank. Gain access to the best bridging loan rates sourced in the UK.
National Westminster Bank, normally referred to as NatWest, is a member of the Royal Bank of Scotland Group. Credited with introducing innovations like telephone banking to the industry in the 1980s, NatWest currently employs around 33,000 people and operates hundreds of branches across the United Kingdom.
Bridging loans from NatWest
Bridging loans are normally used for property transactions. These loans are designed to aid people who are moving house and who wish to purchase a brand new home before they’ve sold their existing home. When a property owner’s equity is locked up in a mortgage, bridging finance can be used to fund the purchase of a new property without having to wait.
A bridging loan can be especially useful for property managers, developers, and people buying auction property. Home-movers may be planning to use a bridging loan for other purposes, an example being to cover a break in a property chain so that they can purchase a brand new property while waiting for a new mortgage to be arranged.
However, it is always important to remember that taking out a bridging loan does not ensure you will get a mortgage in the future.
Bridging loan calculator
Our calculator is fast and simple to use, and it shows the relevant interest charges and various other costs associated with your bridging loan. There are numerous bridging finance companies that charge many different rates of interest, along with a host of other charges. These charges can differ substantially, thus making it hard to supply a bridging finance quoting system online that’s capable of giving quotes for all circumstances. A bridging calculator is meant as a guide only and should be used accordingly. You can also use our online bridge loan calculator to compare NatWest bridging products with the best financing packages from other providers.
Comparing a NatWest bridging loan compare to a secured bank loan
Bridging loans differ from traditional loan products as they are only for short-term funding issues, whereas long-term loans tend to have more general purposes. Bridging finance is also a lot quicker to arrange, meaning that the funds being transferred to a borrower’s account can occur in just a matter of days, compared to a number of weeks where more traditional methods of funding are concerned.
Interest rates
When you compare the cost of a NatWest bridging loan against the more conventional types of property finance, the following factors should be taken into consideration:
Charges
In addition to the interest, you will need to pay a collection of different charges when you apply for a bridging loan, including some or all of the following:
- Broker fees: If you use a broker, these cover the cost of hiring their services when searching for a suitable loan.
- Valuation fees: These cover the property surveyor’s costs for performing a valuation of your property.
- Legal costs: In most instances, these legal costs are charged at a set rate and are used to cover your bridging finance provider’s solicitor fees.
- Exit fee: Approximately 1% of the loan should you decide to repay early; not every loan provider will charge an exit fee.
- Arrangement fee: The expense of setting up the loan, which roughly equates to 1-2% of the loan.
- Repayment fees: the cost of the paperwork at the end of your loan.
What to consider
Bridging loan size: A bigger loan to value tends to have higher interest rates because they pose a bigger risk to the loan provider.
Repayment terms: If you decide to take out a closed bridging loan and you have set a concrete date for repayment, the amount of interest you can expect to pay will increase accordingly.
Property value: The value of your security will also affect your eligibility and rate of interest applied to your loan. Again, the more risk a lender faces, the higher the interest will be.
| Browse all NatWest comparison services | |
|---|---|
| NatWest Bridging Loans | NatWest Commercial Finance |
| NatWest Development Finance | NatWest Loans |
| NatWest Mortgages | NatWest Auction Finance |
Apply for a bridging loan online
The first step in making an application for a bridging loan is to provide the lender with some basic information. Simply enter the type of bridge loan you want, the property you intend to use as security, and your personal details into our online loan application form, and when we have received your request for bridging finance, we will then contact you for any additional details we require in order to process your application or to arrange online appointments to discuss further. Our applications team is open till late and on hand.
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 |
As previously noted, the majority of bridging loan lenders do not deal directly with the general public, thus in order to obtain a bridge loan, you will typically need to go through a loan broker. For the purpose of managing bridge loans, which are only available through brokers, high street banks typically maintain distinct companies.
Let our AI software compare rates for bridging loans against high-street banks and other institutions:
