When a property opportunity won't wait for a standard mortgage, bridging finance can fill the gap, as long as there's a clear plan to repay it.
Think carefully before securing other debts against your home. YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Some forms of bridging loans are not regulated by the Financial Conduct Authority.
Bridging loans are designed to be short. They usually cost more than a standard mortgage, so the most important question is always the same: how, and when, will it be repaid? We start there.
Buying at auction usually means exchanging on the day and completing within a set period, often 28 days. That's too quick for many standard mortgages. A bridging loan can fund the purchase, with a mortgage or sale arranged afterwards to repay it.
If your buyer drops out but you don't want to lose the home you're buying, a bridging loan may let you complete your purchase before your sale goes through. You'd repay it when your existing property sells.
Some lenders won't offer a standard mortgage on a property without a working kitchen or bathroom, or that needs structural work. Refurbishment bridging can fund the purchase and the works, with a longer-term mortgage arranged once the property is improved.
When a development is finished but the units haven't all sold, development exit finance can replace more expensive development borrowing and give you time to sell or refinance.
The clearer your exit, the more options you're likely to have. We'll help you set it out before anything goes to a lender.
It usually costs more than a standard mortgage, with interest charged monthly and arrangement and exit fees to consider. That's why it's meant for short periods. We'll set out the full cost before you decide.
It depends. A bridging loan secured on a home you or your family live in, or will live in, is usually regulated by the Financial Conduct Authority. Loans for investment or business purposes often aren't. We'll tell you which applies to you.
It depends on the lender, the valuation and the legal work. We'll give you a realistic timetable at the start and keep everyone moving, including your solicitor.
Talk to us first. Depending on your circumstances, we'll either arrange the bridging loan for you or introduce you to a trusted specialist, and we'll explain which before you go ahead.
Some forms of bridging loans are not regulated by the Financial Conduct Authority.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances.
Tell us about the property, your timings and how you plan to repay. We'll come back to you, usually within one working day.
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