Overall representative example for regulated bridging loans
If you borrowed £275,000 over a 1-year term at 9.55% p.a. (fixed), you would make 12 monthly payments of £2,237.84 and pay £301,854.08 overall, which includes repayment of the net loan, interest of £20,359, a broker fee of £995 and a lender fee of £5,500. The overall cost for comparison is 12.6% APRC representative.
If you borrowed £275,000 over a 1-year term at 9.55% p.a. (fixed), you would make 12 monthly payments of £2,237.84 and pay £301,854.08 overall, which includes repayment of the net loan, interest of £20,359, a broker fee of £995 and a lender fee of £5,500. The overall cost for comparison is 12.6% APRC representative.