How Much Does Bridging Finance Cost | BRIDGING FINANCE EXPLAINED | Property Education | Ste Hamilton

Welcome back to another video, with me Ste Hamilton, where I break down the cost of bridging finance when purchasing a property! For more videos like this, please be sure to like, comment and subscribe!
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[@ositaeze5237]

Great video. Well done Steve.

[@IbbyAslam]

Very educational video ste 🙏🏽🙏🏽

[@scottxgibson]

As someone who's going through the bridging finance process at the moment, I would recommend you plan as far in advance as possible with your tradespeople... people no showing or causing your project to drag on will hurt your wallet. BAD.

[@h3steven]

Great advice 👏🏼👏🏼👏🏼

[@rocky_hare]

Can’t get it explained any better then from the 🐐 👍🏼👏🏼

[@devonlewis9234]

Great video ste

[@thesamnorris]

This is a great video Ste. Good work. And I should know haha

[@RahelaSavastita]

Great video

[@thetruth3435]

sooo simple thanks 😊

[@tamarahaddad11]

Fantastic, clear video - thanks so much! I was watching an investors video and he was doing a renovation project and he wasn’t super clear but he mentioned that once the property has been revalued and then remortgaged, at the end, they would pay the bridging company back from the increased equity. Is this ever the case?

[@odysseasv7138]

It's always the case, but for not experienced investors it's risky, due to calculations being wrong or project takes too long etc etc. Anything can happen.

[@sahill16]

In terms of the term length not being fully used, 9 months instead of the full 12, do you pay the rest of the loan as a balloon payment or what happens to the rest of the money and how is it paid.

[@haroonkhan8690]

Thanks Steve, what if the property is brought through a Ltd company, can you still get bridging finance for that? Also when you how do you remortgage if brought through a Ltd company? Ie would that go on the directors name?

[@MoltenArmour]

It is worth noting that bridging is a VERY risky game to get into as the default fees etc can be really high and many lenders are a lot less flexible than a traditional term lenders.

[@h3steven]

Don’t mess up and communicate, no issues then 🙏🏼

[@812sf3]

Hey Steve, thanks for the great video mate. Do you know if you have to put up collateral to get a bridging loan? And can first time buyers get a bridging loan?

[@h3steven]

Both answers are a yes

[@UFCWarriorHub]

What happens at the end, once the property is refurbed. Do you sell it and pay the bridging loan back or mortgage it through a traditional lender and then pay the mortgage back? Or either? Sorry, new to this.

[@odysseasv7138]

Can you take Bridging loan, refurbish and with an exit strategy being that you'll reportage for residential(to live in), of course after increased equity?

[@melcelespara7980]

Hi, Can I Ask for example I won on auction how soon can a bridging finance be approved?

[@user-xh9qp7vv5x]

What’s the process if you want a bridge to let loan on an auction house?

[@ashpervaiz2211]

hi can i get bridging to buy land

[@jarohogan]

Can the interest be paid at the end of the term?

[@h3steven]

A handful of lenders allow this

[@Victor-DOOM]

Thanks interesting
Bit strong for me though I think when the company calls me back I’m not going to bother far too much risk I can’t afford

[@JonnyKahann]

Is a colleratal required for using bridging finance?

[@jasonburden7999]

I had heard that it's a secured loan which means the lender will have to secure it against a property or other assets

[@megaman2016]

Also if you pay upfront and complete early, do they reimburse you for the remaining months?

[@h3steven]

Yes they do

[@MoltenArmour]

In most cases yes, most will do minimum terms, some will charge entire months interest, some will do exit fees etc. So best to review each deal

[@megaman2016]

@@MoltenArmour with all the fees involved it makes you wonder how it is profitable

[@MoltenArmour]

@@megaman2016 I work in bridging / development finance and it is expensive, but for the right deals it is great and just a cost of business.

[@megaman2016]

Is it your deposit + the fees or are the fees taken from your deposit?

[@edgarcosta4746]

Deposit + fees

[@perryrumble5469]

Please send me the details of your mortgage lender

[@h3steven]

Email [e-mail] please with your full name and contact number 🙏🏼

[@hmoto7108]

Terrible grammar! Either 'the most simple' or 'the simplest'.