How Expensive is Bridging Finance? You Won't Believe the Answer!
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- Опубліковано 5 кві 2023
- How expensive is bridging finance? Well, hey, you're not going to believe the answer, and it's not what you think it is. So keep watching and find out how expensive it really is now.
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Thank you but arrangement fees are too high, around 2% of loan value making it more costly than mortgages when you compare them side by side.
Plenty of mortgages have arrangement fees at that level or higher but you are missing the point. Bridging finance and mortgages are never meant to be compared side to side, they are completely different financial products and used in completely different ways, as many of my videos on this channel amply demonstrate. Bridging loans are way more flexible than mortgages and can be used in a multitude of situations where mortgage lenders decline to lend.
The point of this video is that bridging costs used to be 4-5 times that of mortgages, now they are closer to parity that ever before.
Right now bringing loans are at 10 - 11% now 😢😢😢😢😢
the best rates for bridging are around 6% Katie - clearly not every loan is that cheap but 8-10% is routinely achievable currently. If you can only find 10-11% you are not getting access the the best bridging lenders. Most mortgage rates are 6-8% now, which is the point of this video - that the difference between typical bridging rates and typical mortgage rates is as small as it has even been.
Bridging money at sub 1% pm will not be around for much longer! Most bridgers have increased there rates already. I suspect the days of 1.5% pm being the norm again are just around the corner.
really? where are you getting your information from Simon. As bridging brokers who are getting rates quoted on a daily basis from bridging lenders , we have seen virtually no increase in bridging rates being offered in the past 6 months. Your suspicions are way off beam from reality. There are way too many brdgers in the the market competing for business.