Confused by the different types of bridging loans? The Ultimate Guide.

Different types of property or scenario could require different types of bridging loan. Different lenders, different fees, different structures and different interest rates. Watch this guide to learn how this affects you.

https://www.promisemoney.co.uk/bridgi...
PROMISE MONEY 01902 585020

TIMESTAMPS:
(00:00) - Intro
(00:30) - Restrictions of the different types of bridging
(03:04) - Types of interest
(05:16) - Types of bridging
(12:36) - Business Bridging
(13:45) - Hybrid Bridging
(17:50) - Outro

Steve Walker from Promise Money is here to explain what is a bridging loan and the different types available. He highlights how to use bridging finance in various scenarios, discussing the flexibility of bridging finance. This video provides a detailed bridging finance explained guide for property investment.

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See our bridging playlist for vital guides
   • Bridging loans and development finance  

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YOUR BANK MAY HAVE 100's OF PRODUCTS AND PLANS.........
PROMISE MONEY HAS OVER 10,000

1st charge, 2nd charge and even 3rd charge
Term loans, short term bridging, Interest only
Mainstream and specialist / complex products
Residential, BTL, HMO, Commercial, Development & Unsecured Business Loans.

Promise Money is a broker not a lender.
Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance
These loans are secured on property and subject to the borrowers status

More than 50% of borrowers receive offers better than our representative examples
The %APR rate you will be offered is dependent on your personal circumstances.
Correct when this post / video was published

Mortgages and Remortgages
Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender's current variable rate at the time.
The total charge for credit is £317807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

Secured / Second Charge Loans
Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender's current variable rate at the time. The total charge for credit is £55.730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

Unsecured Loans
Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments.
Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Promise Money is a trading style of Promise Solutions Ltd - Company number 04822774
Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Authorised and regulated by the Financial Conduct Authority - Number 681423
The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages
Website www.promisemoney.co.uk


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