The Cost
of your Bridging Loan
You are normally charged a set
interest rate, which is usually
referred to in terms of percentage
per month. For example; if you
borrow £100,000 at 1.5%
per month, the loan will cost
you £1,500 per month (i.e.
1.5% of £100,000 for each
month).
Ideally you should shop around
for the best rate. But usually
most people simply use the lender
that can act quickest because
of course in Bridging time is
usually of the essence when a
this type of loan is required.
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