Use our AI loan finder to get a better rate bridging loan than Yorkshire Bank
Yorkshire Bank Bridging Loan
Want a better rate than Yorkshire Bank? Get an instant indicative repayment figure using our bridging loan calculator
Use our bridging loan calculator for quick rate comparisons with Yorkshire bank. Gain access to the best bridging loan rates sourced in the UK.
Founded in 1859 in Halifax, Yorkshire Bank now operates more than 90 branches and 22 business and private banking centres in the UK. Yorkshire Bank is owned and operated by CYBG plc.
Compare Yorkshire Bank bridging loans
The most common use of a Yorkshire Bank bridging loan is for property purchases. Yorkshire Bank bridging loans assist homeowners moving house, wanting to purchase another home before selling their existing house. When equity is tied up in an existing mortgage, a bridging loan might be the most appropriate way to pay for the property sale.
A bridging loan is useful to property developers, buyers of property at auction, and landlords managing a property portfolio. When moving home, a bridge loan is useful to avoid a property chain, ensuring they acquire the new house while waiting for mortgage funds.
Yorkshire Bank bridging loan calculator
Our calculator provides approximate costs associated with your bridging loan. There are many bridging loan providers with rates that exceed others. We search the market, meaning we will compare the best deals for you.
Below are the fees you must consider to be added to the bridging loan:
- Setup (facility) fee: The average cost of setting up is 1-2% of the total amount.
- Administration fees: Completing the paperwork beginning to end.
- Exit fees: not always applied but can be up to 1% of the loan.
- Broker fees: paying the bridging loan broker to source and package the deal
- Legal fees: an example charge would be solicitor fees
- Valuation fees: property evaluation costs to the land surveyor
Bridging loans compared to standard loans
Bridging loans are short-term loans, and personal or secured loans are long-term. Securing bridging finance will not guarantee a mortgage.
In reality, the speed of receiving funds for bridging loans in your account is the key difference between the two types of finance. It takes a longer time for high-street banks to complete a standard loan due to their complex eligibility process, compared with a bridge loan that takes two or three days.
Bridging finance interest rates
Adding up fees, the loan amount, and the interest rate provides an approximate cost of bridging finance. Below is what to expect regarding bridging loan interest rates and what factors can impact the amount of interest you will pay.
- Repayment terms: If you have applied for a closed bridging loan and you establish a set date for repayment, the length of your loan might impact the interest rate.
- Bridging loan size: Expect higher interest rates when wanting funds in excess of £300,000 unless there are assets in hand that the lender feels satisfied with.
- Property value: The value of your property could determine the rates for the bridging loan – commonly referred to as being your loan to value. The more risk bridging loan lenders face, the higher the interest.
| Browse all Yorkshire Bank comparison services | |
|---|---|
| Yorkshire Bank Bridging Loans | Yorkshire Bank Commercial Finance |
| Yorkshire Bank Development Finance | Yorkshire Bank Loans |
| Yorkshire Bank Mortgages | Yorkshire Bank Auction Finance |
Applying for bridging finance
We need your contact name and number, the type of bridging loan you are after, and the property intended as security. Once you submit your application, a member of our team will contact you for any additional information, which can be discussed in follow-up online appointments. Contact us today, we are open till late!
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:
