As a subsidiary of the Lloyds Banking Group, Bank of Scotland offers bridging finance on the same limited terms.
Bridging finance is offered only to members of Bank of Scotland private banking services.
If you’re in the market for a competitive bridging loan quote, please take advantage of our whole of market access and competitive prices.
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Do You Need a Bank of Scotland Bridging Calculator?
Since the Bank of Scotland loans are only available for members of its private banking, why not let Business Expert get you a range of quotes from the entire alternative lending market.
With the whole bridging loan sector at our fingertips, Business Expert offers a free broker service whereby we use our knowledge and connections to find you the bridging finance that’s right for you.
Use our own bridging finance calculator to see the type of costs and fees a typical loan might entail.
Do Banks do Bridging Loans?
While many borrowers, particularly in the residential bridging market, seek the reassurance to be found via choosing a well established high street bank, the truth is very few of these institutions now offer bridging finance.
Rather the market has shifted towards the specialist lending market and a large number of dedicated bridging companies now fill this gap in the market.
How are Bridging Loans Calculated?
There are a huge number of variables takek into consideration for each bridging quote, and of course some lenders have specific criteria unto themselves based on their own risk assessment.
For most cases, the use of a detailed and well thought through bridging loan calculator such as ours is the most convenient way to understand the mechanics and variables of how this type of funding is structured.
Is a Bridging Loan a Good Idea?
New lenders are often unsure about whether to take the plunge with bridging loans and ask ‘are they a good idea?’
Over the many years we’ve been doing this we’re happy to say that in most cases the experience is a positive one. The key factor is that the borrower understands the risk and ramifications of bridging, and goes into with an informed view.
As long as there are no surprises, bridging works seamlessly and efficiently as an ideal form of short term funding.
What is the Interest rate on a Bridging Loan?
Bridging Loans are high interest, as befits their short term nature.
Interest rates are charged monthly rather than annually (APR) and you should expect a rate from about 0.4 right up to 2% per month.
Because of their monthly calculation, even small percentage increases will have a sizeable impact on your payment. For this reason it’s worth being especially vigilant in seeking out the best possible deal.