Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS)

Asset Finance

Asset Finance

Property Finance

Property Finance

Bridging Loans

Secure your next property deal
  • Residential, commercial and land bridging loans from £50,000 to £20,000,000
  • Rates from 0.4% per month
  • Terms up to 36 months
  • Up to 100% LTV (with additional security)

What can bridging loans be used for?

Bridging finance can be used for a wide range of purposes including:

  • Buying a property at auction.
  • Funding the purchase of land for development before securing develop finance.
  • Refurbishment work on a property.
  • Purchasing an uninhabitable property.
  • Securing a property before securing construction finance.
  • Releasing funds for business purposes such as buying stock, funding new contracts or buying IT equipment.
  • Bridging the gap between selling one property and securing a mortgage on another.
  • Providing a quick solution to help fix broker chains.
  • Exiting a development loan.

What are the criteria to get a bridging loan?

Most bridging lenders offer terms up to 18 months (12 months maximum for regulated bridging loans).

All lenders will require security on the property being financed, this may be 1st, 2nd or 3rd charge. Some lenders will look for additional security to increase the LTV.

Some bridging lenders will lend against properties in poor condition, that need to be demolished, or cannot be mortgaged due to condition.

 

What do I need to get a bridging loan?

  • Contact information for everybody involved in the deal, including your solicitor
  • The amount you are looking to borrow
  • Details of the security and its valuation, both before and after development or refurbishment
  • Costs and timelines for any refurbishment or development activity
  • Planning permissions, if applicable
  • Information about you and any other applicants and guarantors
  • Your repayment proposals

Why use a broker for bridging finance?

There are more than 100 specialist property lenders, each with their own rates, credit appetite and geographic focus. Our team has decades of knowledge working with property investors, developers and landlords and can help position your deal with the most appropriate lenders.

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