Nationwide Bridging Loan Comparison Calculator

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

Still the biggest building society in the world, Nationwide is owned by and run for the benefit of its members. Providing an extensive range of services, including savings accounts, mortgages, secured loans, insurance, corporate deposit accounts, personal loans, credit cards, insurance products, and products offered by subsidiaries of the society, such as The Mortgage Works UK, Nationwide has a loyal following of millions of customers across Great Britain.

Bridging loans from Nationwide

A bridging loan is a type of short-term loan. It’s best thought of as a temporary loan that gets you from A to B until you’re able to secure a more long-term type of financing or clear the loan in full, perhaps using a different borrowing product such as a nationwide mortgage or homeowner loan. That’s where the “bridge” idea comes into play—a speedily arranged financing option to help you get from one step to the next.

Nationwide bridging loan calculator

Bridging loan calculators are intended to give a rough overview of how much a short-term finance facility costs. However, there are a lot of loan providers, all of which offer different interest rates while using different fee scales to calculate their interest in their own unique ways. As independent brokers, we’ll always provide the finance deal that offers the best possible value based on your individual circumstances and requirements.

It is essential that you remember that the interest figure is simply the total interest amount charged, which doesn’t include any capital repayment. Bridging loan interest charges can be set up so they are either paid each month or added to the loan and paid when the loan is redeemed.

Rate of interest

Nationwide bridging loans are a shorter-term financing option. A bridging loan may serve as a temporary borrowing solution in a desperate or time-critical situation. They can be invaluable in helping with a property purchase that would otherwise not be possible. However, as you may be aware, with a stop-gap measure such as this, bridging loans can be a bit more costly compared to a regular loan from a bank or building society such as Nationwide.

Bridging loans can be used for a number of purposes and can be complex in nature, although relatively simple to set up. While most banks have fixed rules when examining applications for a loan, bridging loan providers have a more flexible approach to lending.

Popularity of bridging loans

The popularity of bridging finance has grown enormously over the last few years, with high-street building societies and banks such as Santander, Barclays, HSBC, and the Yorkshire Bank becoming more reluctant and slower to approve mortgages. With the introduction of the Mortgage Market Review rules, mortgage applications became a much longer and more restrictive process, which has led to a rapid growth in the number of bridging loans being applied for and approved.

Applying for bridging finance online

Any limited company, trust, or person is able to obtain bridging finance by applying online. Usually, the online application for bridging finance tends to be straightforward, quick, and easy to complete. Bridging finance can be used for almost any reason, as long as the debtor is over eighteen years of age and the borrowing purpose is approved by the lender.

A bridging loan requires a property (including residential, commercial, flats, houses, and investment property) or another valid asset, such as land, as security. A bridging loan is a secured loan, which means that the lender takes a first or second charge over the asset, property, or land being financed. If the borrower is a company, the lender may ask for further guarantees.

The idea behind this is that by providing security for the lender, you are ensuring that the loan can be repaid should unforeseen circumstances arise. Without the ownership of these assets, a bridging loan application will not be accepted or approved.

The primary concern for online bridging loan lenders is how and when the loan will be paid back. All online loan providers 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 similar to a mortgage from a high-street bank. It shows the size of the loan in comparison with the property value. This means that the total loan size offered will be proportionate to the amount of equity provided by the applicant.

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