Bridging Loans

  • Thread starter my2leftfeet
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my2leftfeet

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I need to find out about Bridging Loans - all advice welcome.

Who should you get it from - your bank? Your existing mortgage provider? Anyone who will give you a good deal?

Is stamp duty included in calculation of the 10% deposit figure?

All I have heard about bridging finance to date is that it is very expensive. Can anyone give me an indication of how much it costs e.g. per '000 per week.
 
irish nationwide are doing it for me @4.6%apr. i happy paying that as its a lot of hassle for them to organise such a large loan just for a month. for example at 4.6% 100k for 1 month would cost 383 euro in interest versus 291 @3.5% for a regular mortgage .
 
eh?

Sorry to sound stupid, but how can there be a value on an unbuilt house (leaving aside the site value)? I'm open to correction here, but since you haven't actually purchased anything, once you get back your deposit that's the end of the matter.

Alternatively, one or other of you might chose to sort out the legal issues and go ahead w. the contract/purchase; that being the case the other party is only entitled to their portion of the deposit paid, I would think.
 
Thanks Eamonn66. Is your mortgage with Irish Nationwide?
 
yes it is, i was going to change but decided against it because of the potential windfall and the fact that they offered me 1 year fixed @2.74% which is as good as any of the others are offering and better than most are offering existing customers.
 
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