Try our easy to use Bridging Loan calculator and get instant detailed quotes showing interest, charges and other costs associated with taking out a Bridging Loan.
There are no exit fees and your commitment fee is also returned when your loan is drawn down.
For full details of our products and rates, please see our rate table.
Bridging Loan Calculator
Try our bridging loan calculator
Calculator Guide
What is a bridging loan calculator?
A bridging loan calculator is a tool used to figure out the overall cost of a bridging loan. It allows you to add in all the property values and the amount you need to borrow. From there, it provides a bridging loan quote that shows you:
- How much you are able to borrow
- How much you will need to pay back
- Whether we can provide you with bridging finance you need
There are several factors that can change the amount of money you can borrow and the rate of your bridging finance. The bridging loan calculator allows you to set your limits ahead of enquiry, so we can help tailor our bridging loans to suit your financial situation.
How do I use the MFS bridging loan calculator?
Enter the details in the sections below to generate an initial quote of the full amount and the monthly interest you will need to pay back.
Using our calculator is straightforward and very quick – just follow these simple steps:
For your ease of use, we have included a full list of definitions below.
- Enter the estimated market value of the property
- Enter any outstanding mortgage. If you do not already own the property, this will be zero
- Enter the amount of money you would like to borrow, in pounds.
- Enter the maximum number of months you will need to borrow the money for.
- Next, choose your interest payment plan. There are three options which are explained below in the definitions. If you choose “part serviced”, enter the number of months you wish to delay your repayment of the interest, after your loan is secured. You can choose to pay the interest monthly starting from 3 months until the end of the loan.
- Please select an interest rate. Our standard rate is 1%, but you can see how different rates of interest affect repayment amounts.
- Please select the arrangement fee. Most lenders charge an arrangement fee for setting up the loan, this is typically 1% but can vary from lender to lender.
How does a bridging finance calculator work?
Our calculator will produce the percentage of Loan-To-Value (LTV) you will need to borrow and the net loan amount; which is the total amount you will receive, including any lender’s fee.
You will also see the monthly interest payments, so that you know how much you will either be paying monthly or at the end of your term, as well as the gross amount, which is the total to be repaid.
Please note:
The figures are only a guide to what you might pay, the exact cost will depend on which loan you choose. Please contact us to talk through your circumstances, no matter how complex they are.
Definitions
- Net Loan Amount – This figure represents the amount you will receive. You will need to pay this back in full at the end of the term.
- Gross Loan Amount – This figure represents the full amount you will repay at the end of term. It is calculated by adding the Net Loan Amount and the interest. This number will change depending on term length and if the interested is paid monthly or rolled up.
- Term – This is the number of months you need the money for.
- Monthly Interest payment – The interest you will pay each month. This will depend on how much you borrow and the overall risk of borrowing.
- You can choose to pay this monthly or at the end of the term.
- Rolled Up – The number of months you would like to delay paying interest. Example: If your term is 12 months and you wish to delay payment for four months, you won’t pay anything until the fifth month. If you choose to delay interest payments until you repay the loan in full at the end of the term, this number will be the same as your term length.
- Arrangement Fee – This is a fixed rate added onto the loan for the reserving of funds and administration costs charged to the company.
N.B – As our minimum loan term is 3 months, if you clear the loan before the end of the third month, then you will be charged the interest you would have paid over three months.
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Whether you’re a first-time landlord looking to start your journey, or a seasoned investor purchasing your next HMO, we’ve got you covered.