Tesco

Bridging Type

Standard Refurb 2nd Charge

Length of term

1 Month 2 Months 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months 9 Months 10 Months 11 Months 12 Months 13 Months 14 Months 15 Months 16 Months 17 Months 18 Months 19 Months 20 Months 21 Months 22 Months 23 Months 24 Months

The number of months you need the loan for.x

How many Security Properties *

1 Property 2 Properties 3 Properties 4 Properties 5 Properties

This is the number of properties that will be used as collateral for the loan. For example, if you want to acquire a new home before selling your present one, it may be more advantageous to charge the bridging loan over both properties to receive the highest rate available. The smaller the LTV, or loan size, relative to the value of the security, the better the rate.x

Security Property 1 Valuation *

£

This is the market value of the property on which you would get the bridging loan.x

Valuation Total

£

Net loan amount *

£

The net amount you require for a bridging loan, excluding fees and rolled-up installments, etc.x

Broker charge

£

Initial Loan Value

£

Lender charge (standard: 2%)

£

Assessment charge (standard: £295)

£

This is the amount that the lender adds to the loan to check the case.x

Telegraphic transfer fee (standard: £35)

£

The lender charges a fee for moving payments to your solicitor's bank account prior to completion.x

Total Loan Amount

£

Any outstandng current borrowing
(second charge only)

£

If you have a mortgage that you want to maintain and are searching for a second charge on the property, we need to know the existing mortgage balance because this determines the LTV.x

Loan Calculation Result

• • No. of Months	Interest Monthly	Total Accumulated Loan	Avg Interest per month
    Month 1	£0.00	£0.00	£0.00
    Month 2	£0.00	£0.00	£0.00
    Month 3	£0.00	£0.00	£0.00
    Month 4	£0.00	£0.00	£0.00
    Month 5	£0.00	£0.00	£0.00
    Month 6	£0.00	£0.00	£0.00
    Month 7	£0.00	£0.00	£0.00
    Month 8	£0.00	£0.00	£0.00
    Month 9	£0.00	£0.00	£0.00
    Month 10	£0.00	£0.00	£0.00
    Month 11	£0.00	£0.00	£0.00
    Month 12	£0.00	£0.00	£0.00
    Month 13	£0.00	£0.00	£0.00
    Month 14	£0.00	£0.00	£0.00
    Month 15	£0.00	£0.00	£0.00
    Month 15	£0.00	£0.00	£0.00
    Month 17	£0.00	£0.00	£0.00
    Month 18	£0.00	£0.00	£0.00
    Month 19	£0.00	£0.00	£0.00
    Month 20	£0.00	£0.00	£0.00
    Month 21	£0.00	£0.00	£0.00
    Month 22	£0.00	£0.00	£0.00
    Month 23	£0.00	£0.00	£0.00
    Month 24	£0.00	£0.00	£0.00

No. of Months	Interest Monthly	Total accumulated loan	Avg Interest per month
24	0.00	0.00	0.00

Initial L.T.V

%

Final L.T.V

%

Interest rate charged

%

Total interest charged over the loan term requested

£

Any outstanding current borrowing
(second charge only)

£

Total amount to be repaid at end of loan term

£

Other Charges

Estimated Valuation Cost

Security Property 1 Valuation Cost

£

Security Property 2 Valuation Cost

£

Security Property 3 Valuation Cost

£

Security Property 4 Valuation Cost

£

Security Property 5 Valuation Cost

£

Total Valuation Cost (Estimated)

£

Legal Fees (Estimate)

Separate Dual

Dual Legal cost(incl VAT)(add £100, only)

£

2nd property
(add £100, only)

3rd property
(add £100, only)

4th property
(add £100, only)

5th property
(add £100, only)

Total Estimated Legal Charges
(£100 added based on each additional property)

£

***** Interest rates quoted are subject to status

***** Early repayment may incur charges on certain products

***** Prices quoted on this calculation is not liable for VAT

If you are having problems with obtaining your quote or would like to discuss your quote, please email us or call the number: 0116 402 7982

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Calculations Select Type Required term Number of security properties Valuation of Security Property 1 Valuation of Security Property 2 Valuation of Security Property 3 Valuation of Security Property 4 Valuation of Security Property 5 Total Valuation Net/actual loan amount required Broker fee Total initial loan Lender fee (standard is 2%) Assessment fee (standard is £295) Telegraphic transfer (standard is £35) Total Loan Any remaining current borrowing (for second charges only) Calculator Results Initial LTV Final LTV Interest rate chargeable Average Monthly Interest

Total interest charged over the required term Any remaining current borrowing (for second charges only) Total to payback at end of required term

Other Fees

Estimated Valuation Fee Security Property 1 Valuation Fee Security Property 2 Valuation Fee Security Property 3 Valuation Fee Security Property 4 Valuation Fee Security Property 5 Valuation Fee Total Estimated Valuation Fee

Estimated Legal Fees Dual Legal fees(incl VAT) 2nd property (add £100 only) 3nd property (add £100 only) 4nd property (add £100 only) 5nd property (add £100 only) Total Estimated Legal Fees(£100 added for each additional property)

If you are struggling to obtain a quote or would like to discuss your quote, please get in touch or call us on 0116 464 5544 In bridging finance, monthly payments are not normally required unless requested. Instead the borrower receives the net loan amount and on repayment of that loan also repays any interest generated whilst the loan was outstanding.

***** Rates quoted are subject to status ****** Early repayment charges may apply on certain products **** Prices quoted on these sheets are not liable for VAT

Commercial and business banking services are, however, off-limits at Tesco Bank. As a result, Tesco Bank’s bridging loans don’t currently exist. Personal loans are available from £7,500 to £25,000, along with mortgages with no specific upper limit. Nevertheless, with inevitable delays and complex application processes, certain borrowing requirements simply aren’t met by Tesco Bank.

When to apply for a bridging loan

A bridging loan is an affordable, accessible, and flexible alternative to a conventional mortgage. If you’re planning to buy a home with all the time in the world, a Tesco Bank mortgage could be right up your street. But what if you’re offered an unmissable deal on the property of your dreams, which is only available for the next two weeks? What if your dream home goes under the hammer at auction, but you haven’t yet closed the sale on your existing property?

In both instances, a bridging loan could ensure you don’t miss out. Secured on the applicant’s existing property, a bridging loan provides quick and convenient access to sums of cash ranging from £25,000 to £25,000,000. Designed to be repaid within a matter of months, the loan is typically paid back when the borrower’s current property sells. Best of all, bridging loans often come with unbeatable interest rates and rock-bottom borrowing costs. So if you need to get your hands on a decent sum of cash in a hurry, that’s the perfect time to apply for a bridging loan.

Qualifying for a bridging loan

In terms of qualification, there’s really only one thing that matters. That being, your ability to provide enough collateral to cover the cost of the loan Bridging loans are secured loans offered in accordance with the value of the borrower’s property. This in turn simplifies the bridging loan application process and often eliminates credit checks from the equation.

So rather than letting the deal of a lifetime slip you by, why not consider an affordable bridging loan? Whether you’re ready to go ahead or simply consider the options available, the team at UK Property Finance is standing by to take your call!

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