When you are looking to bridge a loan, there is no set amount that you will have to pay, the amount will vary greatly. It will depend on a good number of factors, but one thing you can be sure of is having to pay some fees. It is not well known what these fees are, they will vary from person to person, they are percentage based. The broker fees and a few other fees are going to be apparent before diving in.
Key Takeaways:
- Property Investment U.K. recently interviewed bridge loan specialist Rory O’Mara to learn more about the costs involved with bridge loans.
- Generally, the amount of the loan you will actually receive will be somewhere around 60 percent of the value of the property.
- In order to avoid penalty rates, you should be cautious about not making the loan’s term too short.
“Typical rates for Bridging Loans are typically around 1% but as with any kind of debt financing, the details will depend on a number of factors.”
Read more: https://www.propertyinvestmentsuk.co.uk/debt-financing-the-cost-of-using-a-bridging-loan/
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