Lloyds Bank Bridging Loan Comparison Calculator

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

Founded in Birmingham in 1765, Lloyds Bank is a British retail and commercial bank with more than 45,000 employees and 22 million current account customers. Lloyds Banking Group Retail is the UK’s largest provider of its kind and is continually diversifying its portfolio with dynamic, flexible, and innovative new financial services for businesses and private customers alike.

Bridging loans from Lloyds Bank

Bridging loans are short-term loans mainly used for property transactions. They’re designed to cover a temporary gap in an individual’s finances. Generally, they’re taken out for two to three months. In a situation where somebody purchasing a house has to make a down payment on a brand-new mortgage before they’ve sold their existing property, Lloyds Bank bridging finance could help.

Our bridging loan calculator explained

A bridging loan calculator is designed to offer a rough overview of the expenses associated with obtaining a short-term finance facility. However, there are numerous loan providers, all of whom calculate their interest in different ways, offer different rates of interest, and have different fees. As an independent broker, we offer the finance that provides the best possible deal for you.

A bridging loan calculator is similar to a mortgage calculator, but rather than calculating regular monthly repayment figures, a bridge finance calculator supplies information about the interest charged every month and the lender’s facility fee. It is very important to keep in mind that the interest figure is the interest amount charged and does not include any capital repayment.

What are the interest rates?

Given the specialist nature of bridging finance, the interest rate is higher compared with loans provided by traditional high-street banks such as Halifax, Lloyds, and NatWest. You can sometimes have interest payments ‘rolled up’, which means you will not pay every month but pay a lump sum at the end of the agreed term instead. This makes it useful for those without the required funds at the start of the loan.

How to apply for bridging finance with Lloyds Bank

Any trust, individual, or limited company can get a Lloyds bridging loan online. The online application for a bridging loan tends to be fast and easy to fill out. A bridging loan can be used for nearly any requirement, as long as the borrower is 18 or older and the reason is accepted first. Bridging loans require some kind of asset, such as land or property, as security.

Bridging loans are a secured loan type, which means the loan provider takes a second or first charge over the property, asset, or land being financed. If the debtor is a business, the loan provider might ask for further guarantees. The concept is that giving security to the bridging loan provider ensures the loan is able to be paid back. Without the ownership of an asset, a bridging loan cannot be approved.

The major concern for online bridging loan lenders is when and how the loan will be paid back. Any lender will want to be certain that if they lend funds, they’ll be settled as assured by the debtor. The security will be used to work out the loan-to-value of a bridging loan, which works in a similar way to a mortgage provided by one of the large high-street banks. This shows the size of the loan in comparison with the value of the property. This, therefore, means that the total loan must fit within the loan’s value.

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