Examples of Standard Bridging Finance Fees
Bridging Finance Fees Charged by Mortgage Broker & Ingard Packaging:
|Commitment Fee/ Packager Fee||£500|
|Ingard’s Packaging Team charges an upfront £500 Commitment Fee when we’ve secured an accepted Decision in Principle and the customer is happy to proceed.|
|Broker Fee||1% (varies dependent on Broker)|
Bridging Finance Fees Charged by Lender:
|Lender Fee/ Arrangement Fee||2% (varies dependent on lender)|
|Interest (serviced, rolled up, retained)||From 0.44% dependent on lender and product|
Other Bridging Fees:
|Legal Fee||£1400 (varies dependent on lender and type of case)|
|A Solicitor with experience in this field is essential and most lenders request a Solicitor from their approved panel to be used.|
|Valuation Fee (usually paid upfront)||From £385, for a drive-by valuation
From £500, for standard valuation
Most lenders allow all of the fees except the upfront Commitment Fee and Valuation Fee to be added to the loan.
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This guide was produced in association with True Bridging.