Barclays Bridging Loan Comparison Calculator

Use our bridging loan calculator for quick rate comparisons with Barclays bank. Gain access to the best bridging loan rates sourced in the UK.

Bridging finance calculators are intended to offer a rough overview of how much a short-term finance facility costs. There are numerous loan providers currently operating in the sector, with each one offering different fees.

As independent brokers, we always provide the most competitive products in line with the needs of each client.

Bridging loans from Barclays

Bridging loans are a kind of short-term loan. They’re best thought of as a speedily arranged financing option which helps to solve a temporary cash-flow problem until you can find a more permanent funding solution. That is where the bridge concept comes in – money to help you get from one step to the next.

Bridging loan calculator explained

Bridging finance calculators are quite similar to a mortgage calculator. However, as opposed to calculating month-to-month payment figures, bridging finance calculators supply information regarding the lenders’ facility fee and the interest charged every month. It is important to keep in mind that the interest figure is the interest amount charged, and does not include any capital repayment.

The interest charges on bridging finance can be arranged so that they are either added to the loan sum or paid when the loan is redeemed or paid every month. Contact us and we will find you the best deals. We are happy to provide quotes that detail the interest charged plus all other costs and we will automatically compare the most competitive bridging options from a broad spectrum of providers on your behalf.

A bridging finance calculator is similar to a mortgage calculator, but instead of calculating monthly repayment figures a bridging loan calculator gives information about the monthly interest charged and the lenders’ facility fee. It’s essential you note that the interest figure is the interest amount charged only, which doesn’t include any capital repayment. The interest charges on a Barclays bridging loan can be set up so they’re either paid monthly or added to the bridging loan amount and paid off when the loan is redeemed.

Rates of interest

Barclays bridging loans are only intended as a temporary product. They’re used to ‘ bridge’ a gap between an urgent financing problem and the main line of credit being available. They can be important in facilitating a property purchase that otherwise would not be possible.

However, as you may be aware of with a stop-gap measure such as this, a bridging loan can be more costly compared to a regular loan from a bank. Barclays bridging loans can be used for many different funding purposes, which may be quite complex in nature. Whilst most banks have set guidelines when examining applications for loans, bridging loan providers have a more flexible approach.

The appeal of the bridging loan

The uptake of bridging loans has grown in recent years, with the large banks and the likes of HSBC, Yorkshire Bank and Santander becoming slower and far more reluctant to lend on mortgages and sales becoming a more protracted process.

With the introduction of the Mortgage Market Review rules some years ago, mortgage applications have begun to take longer than ever to be approved, whereas bridging loans can be approved in a matter of days with the funds being released just as quickly.

Applying for bridging finance

Any limited company or individual or trust can make an application for a bridging loan online. Usually, the online application for bridging finance is usually easy to fill out with a fast turnaround. They can be used for just about any purpose, as long as the reason is acceptable to the provider and the debtor is above eighteen.

A bridging loan requires a property (including commercial property, flats, residential, investment property and houses) or a similar asset as security. Ultimately, bridging loans are secured loans, which means that the bridging loan lender takes first or second charge over the property, land or asset being financed. If the debtor is a business, the loan provider may require further business guarantees.

Without the ownership of an asset, a bridging loan application will not be approved. The major concern for online bridging lenders is how and when the loan will be paid back. All lenders will want to be certain that if they lend money, it will be repaid as promised by the borrower.

The security will be used to work out the LTV of a bridging loan, which works in a similar fashion to a mortgage provided by a high street bank. It shows the size of the loan in comparison with how much the property is valued at. Therefore this means that the overall loan needs to fit within the LTV.

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

Let our AI software compare rates for bridging loans against high-street banks and other institutions:

Main Stream Banks
Barclays Halifax
HSBC Lloyds Bank
Martin Lewis Nationwide
NatWest Post Office
RBS Santander
Shawbrook Bank Skipton Building Society
Tesco Together Money
UK Bridging Loans Yorkshire Bank