Bridging Finance From NIB

[Buzzmolloy]

Has anybody availed of bridging finance from NIB in the last few years?

I would like to know what was the applicable interest rate applie dto the account. Standard Variable Rate or some other deviation?

thanks

Buzz

 

[Butter]

I did five years ago so I don't know how relevant it might be now. Can't remember exact terms but do remember it was very expensive. Pretty sure it was charged at a rate in excess of the actual mortgage rate but I couldn't swear to that. We were lucky that we only needed it from Friday to Monday and it still cost several hundred €. I'd be wary unless you were sure that it was only for a short period.

 

[Phil_space]

Hi,

I currently have a bridging (mortgage) loan with NIB and am being charged 4.15% whereas their SVR is 3.40% (depending on LTV). So as you can see it's pretty expensive.

 

[Buzzmolloy]

Philspace

Are you on their selfbuild option?

Buzz