Use our AI loan finder to get a better rate bridging loan than Royal Bank of Scotland
RBS Bridging Loan
Want a better rate than RBS? Get an instant indicative repayment figure using our bridging loan calculator
Use our bridging loan calculator for quick rate comparisons with RBS Bank. Gain access to the best bridging loan rates sourced in the UK.
The Royal Bank of Scotland (RBS) has a history dating all the way back to 1695, making it Scotland’s oldest bank by a wide margin. Now part of the Lloyds Banking Group, RBS supports millions of private customers, businesses, and communities across the UK.
Bridging loans from Royal Bank of Scotland (RBS)
A bridging loan is mainly used for buying property. It is a specific product that is primarily designed to cover a temporary financial gap or shortfall. In the majority of cases, a bridging loan is taken out for a couple of months to a year. Bridging finance is particularly useful in situations where someone who is purchasing a new home needs to make a quick down payment before they have sold an existing property.
Bridging finance calculator
We have designed our bridging loan calculator to be as user-friendly as possible. This useful tool will help you to:
- Generate a quick estimate of how much you are able to borrow based on your eligibility.
- Discover how much you might be able to borrow without affecting your credit history.
- Calculate how much your monthly repayments will be.
Our Bank of Scotland RBS bridging finance calculator can help you discover the best suitable loan product based on your individual needs and circumstances. Along with providing an accurate estimation of how much you’ll be able to apply to borrow and the associated costs, it can also be used to compare Royal Bank of Scotland bridging products with loans from other providers with a single glance. We are open till late and offer convenient online appointments to discuss your needs if you need more assistance.
What are the interest rates?
Due to the specialist nature of bridging finance, the total amount of interest is typically slightly higher than a traditional loan product. Sometimes you can have the interest payments rolled up, which means you do not pay every month but pay a lump sum at the end of the loan term instead. This is useful for those without the required funding in the early stages of obtaining the loan. We compare the most competitive products on your behalf, meaning you get the best possible deal.
| Browse all RBS comparison services | |
|---|---|
| RBS Bridging Loans | RBS Commercial Finance |
| RBS Development Finance | RBS Loans |
| RBS Mortgages | RBS Auction Finance |
How to apply for a bridging loan
Almost any limited company, individual, or trust can apply to get bridging finance online. Usually, the online application for bridging finance tends to be simple to fill out with a fast turnaround.
Bank of Scotland Bridging loans can be used for just about any purpose, so long as the reason is approved first and the borrower is 18 or older. Bridging finance requires a property (including flats and apartments, residential or commercial property, houses, and investment properties) or an asset, such as land as an example, as security. Bridging finance is a secured loan type, which means the loan provider takes a second or first charge over the land, property, or asset being financed. If the borrower is a company, the lender may require further guarantees. Without the ownership of these assets, a bridging loan cannot proceed.
The major concern for bridging loan lenders is when and how the loan will be repaid. Bridging providers always want to be certain that if they lend money, it will be paid back as guaranteed by the borrower. The security will be used to work out the loan value of a given product, which works in a similar way to a conventional mortgage from a high-street bank or building society, such as Santander, NatWest, or Halifax. It shows the size of the loan in comparison to how much the property is worth. The overall loan amount needs to fit within the maximum loan to value amount, unless the borrower can provide additional security by means of further assets.
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:
