ICS Bridging Loans

[lmd]

Housing Bridging Loans | ICS Mortgages | Residential Mortgages

The ICS Brand was established in 1864 and has remained a leading and trusted brand in the mortgage market throughout its 150-year history.

www.icsmortgages.ie

Just trying to figure out costs.

New mortgage with different lender 300k

Legal fees €1291.50 incl VAT
Arrangement Fee 2% of Loan €6,000k
Exit Fee 1% of Loan 3,000
Total = 10,291.50

Are my calculations correct? Could anyone advise how much would be payble each month along with this from their website info?

Was kind of excited to see they are doing bridging loans as currently in a chain but think its too expensive especially if our sale falls through for any reason.

Anyone any thoughts?

 

[Thomas1]

Plus 3k a month interest while you have the bridging I.e. 1%

 

[Gordon Gekko]

I knew the whingers would be out when I saw Dilosk’s pricing. It’s a product that’s been much needed and 1% a month is fair.

 

[MrEarl]

I agree with Gordon.

Bridging Loans, while typically short term, are far more risky for a lender, than a traditional homeloan.

The fact that most lenders stopped providing Bridging Loans years ago, says it all.

 

[Gordon Gekko]

I agree with Gordon.

Bridging Loans, while typically short term, are far more risky for a lender, than a traditional homeloan.

The fact that most lenders stopped providing Bridging Loans years ago, says it all.

Hear hear.

It’s a cost of doing business and should just be baked into the transaction costs. One would expect to pay 6% over six months. It’s the cost of a kitchen or a couple of bathrooms to not have to sell and then rent.

 

[ClubMan]

I knew the whingers would be out when I saw Dilosk’s pricing. It’s a product that’s been much needed and 1% a month is fair.

Who's whinging?
The original poster simply asked about their calculations and reckoned that the product might be too expensive for their particular needs.
I don't see any whinging there.

 

[Gordon Gekko]

Who's whinging?
The original poster simply asked about their calculations and reckoned that the product might be too expensive for their particular needs.
I don't see any whinging there.

Whinging about the cost.

Who? The OP!