commercial mortgage calculator

Bridging Loans-The Essentials

written by Martyn Witt

What are the mechanics of a bridging loan and what should the consumer concern themselves with? The often advised considerations of a bridging loan are to confirm the rate payable, depending on charge type anything between .95% on first charge upwards to 1.75% on second charge and/or blended rate. Since Mday (31/10/2004) within the United Kingdom and the involvement of the FSA all charges will be clearly identified within a KFI (Key Features Illustration). There will undoubtedly be an arrangement fee of anything between 1 to 1.5% of the loan advance, however the consumer must be advised and be made aware of any 'exit' fees. To calculate current bridging loan finance monthly charges on first, second and blended rates use the bridging loan calculator at http://www.mortgage-loan-uk.net/bridging_loan_calculator.htm

...read full article...