Short-term bridging finance, provided at short notice.

 
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How do Together Bridging loans work?

A Together Bridging loan lasts for an agreed term – typically 12 months. We provide the loan you need, and you need to pay it back (as a lump sum) before or when the term ends.

You'll be charged interest each month. Depending on what type of Bridging loan you have, you may need to pay this each month, or it may be rolled up and added to the lump sum. So if you repay the lump sum before the term ends, you may be charged less interest in total.

Any fees associated with the loan can be added to the lump sum as well.


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Common questions about Bridging loans

What is a bridging loan? 

A bridging loan is a short-term loan, which usually lasts up to 12 months. It’s so-named because it’s designed to span the gap between money going out, and new money coming in.

Why might you choose a bridging loan? 

A bridging loan is short-term, so you may choose one if you only need money temporarily – perhaps to sort out a cash flow problem, to bridge the gap between buying a property and securing a mortgage, or because you're intending to turn around a project quickly.

How long does a bridging loan take to arrange? 

We’ve got decades of experience in getting bridging cases over the line quickly – and much faster than a typical fixed-term loan or mortgage. This means a bridging loan could get you the cash you need while waiting for longer-term borrowing to be arranged.

How much can I borrow, and how much deposit will I need? 

We can lend you up to 75% of your property's value, so you’ll need at least 25% as a deposit. The maximum loan-to-value ratio we can offer may be reduced based on the nature of the property, what you’ll be using the bridging loan for, and your personal circumstances.

Can I get a bridging loan if I’m retired?  

Yes – we’ve no maximum age on our Bridging loans, and we’ll consider a wide range of income (including your pension) when it comes to assessing affordability.

So if you’ve found the perfect retirement property, you don’t need to wait around for your current one to sell, and you’ll have plenty of time to organise your move and make the transition gradually.

Can I get a bridging loan if I’m self-employed? 

Whether you’re a sole trader, freelancer or side-hustler, we can accept self-employed applicants with just 12 months trading history, and you’ll get the same rates as someone with a regular income.

We’ll look at your last three months’ earnings, so even if you took advantage of the Self-Employed Income Support Scheme in 2020, you’ll still be treated as normal.

Can I apply for a bridging loan if I have poor credit? 

If you’ve got less-than-perfect credit, such as a small blip that’s caused a big impact on your credit score – we’ll use our common sense when reviewing your application, and look at your credit history instead.

We can also ignore adverse credit that’s over 12 months old when it comes to deciding your interest rate.

Can I get a bridging loan on land? 

Yes – we can lend on land for a range of purposes. And if you’ve got planning permission in place, we have specific Bridging loans for development which can last up to 24 months.

Could I use a bridging loan to help me save on Stamp Duty? 

Because our Bridging loans are typically quick to arrange, you could purchase your dream property before the Stamp Duty holiday extension expires – without waiting for your existing place to sell or a complete chain.

We talk in more detail about the potential savings here.

How do you decide my interest rate? 

The rate you're offered may be influenced by several factors, including:

  • What you're using the Bridging loan for.

  • The type and value of the property you're using to secure the loan.

  • How much you need to borrow (both in total, and as a percentage of your property's value).

  • Whether you have any other loans secured against the property, that won't be repaid by this loan.

  • Your credit history (but not your credit score).

 

Check your eligibility & enquire

At Together, our flexible approach means that we can often lend where others can't. If you fit our criteria, we'll do everything we can to make it happen.

To be eligible to borrow from Together, you must:

  • Have found the property wish to buy
  • Be looking to borrow no more than 70% of the purchase price of the property you plan to buy
  • Not be on furlough from your only source/s of income
  • Not be at risk of redundancy

Approval is based on a credit check and an assessment of your individual circumstances.

Ready to talk?

Enquire today for a callback from a member of our friendly, expert team.


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Any property used as security, including your home, may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Together offer a range of regulated products and unregulated products. Together Personal Finance Limited are authorised and regulated by the Financial Conduct Authority (FCA) and offer products including but not limited to, first charge residential mortgages, second charge secured loans, Consumer Buy-to-Let mortgages and regulated bridging loans.

Our unregulated products are provided by Together Commercial Finance Limited and include but are not limited to unregulated bridging loans, Buy-to-let, Auction Finance and Development finance products.

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