Bridging loans

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).