Bridge Loan interest CalculatorIntermediate loan interest calculator
DO NOT make any montly payment with a loan that is withheld to bridge interest. Interest is added to the loan and disbursed at the end of the loan period when the loan is repaid. In the event of early repayment, the interest still due will be reimbursed. Interest repayments per month are termed service overdrafts.
Interest is usually paid on the basis of the amount of the gross loan, which comprises the lender's credit facilities, usually 2%. Loans at value (LTV): LTV is determined on the basis of your credit requirements plus your currently unpaid loans as a percent of the entire value of the securities. As a rule, the overall value of the loan should not be more than 75%, but it may be enhanced with extra collateral.
Interests rates: Interest levels begin at 0.48% pm and are dependent on a number of determinants such as the loan value. Lower LTV's, for example, will tighten lower interest levels. Honoraria: No advance charges apply. As soon as a bridge loan has been granted for you and you have agreed to the conditions quoted, you must make a payment to continue with the loan.
Lawyers' costs usually ensue, and administrative costs are usually added to the loan amount. Interest can be payable each month (on a service basis) or withheld without payment during the life of the loan. Interest rate varies according to Loan to Value (LTV) percentages.
Every bridge loan request is processed on a case-by-case and case-by-case approach. Remember that charges such as appraisal, administrative and attorney costs may vary depending on your alternate credit source.