Bridging loans for chain breaks.
- Flexible on income & credit status
- On a huge range of property types
- No Early Repayment Fees
Why choose Together?
FlexibleYou're more than a credit score. If the sums show that you can afford the property, we do our best to make it happen.
TrustedWith almost 50 years of lending experience under our belts, you can trust us to get things right for you.
Open-mindedUnlike many, we lend on properties like ex-council properties, high-rise flats and those made of non-standard materials.
SmartReceive updates on your application, upload files & e-sign most documents to open your Together account - all using our secure app.
0.85%Rates from 0.85% / month*
70%Borrow up to 70% of the property's value.
1 yearUp to 12 months, with no Early Repayment Charges.
✓No monthly payments.
*The maximum loan, rate and loan-to-value ratio offered may vary based on your individual circumstances.
Because moving is stressful enough
When something happens further down the chain that forces your buyer to pull out, or delay proceedings, it’s something you don’t need. But all is not lost.
You can use a Together bridging loan to secure your new property and move in. Leaving you with up to 12 months to complete the sale of your old home, and repay the loan.
Plus there are no monthly repayments on this Bridging Loan, so you won’t end up paying two mortgages at the same time.
Instead, you just pay back what you borrowed, plus any interest, in a lump sum when you complete the sale of your previous property. There are no Early Repayment Charges, so the sooner you repay the loan, the less it’ll cost you.
And our common-sense approach means we can often lend when others can’t. Whatever your property, and whatever your walk of life.
Talk to us if:
- You’re retired
- You’re self-employed, or have an unpredictable income
- Your new property is in a high-rise or has a thatched roof
- You've recently changed job, or gone freelance
- You have less-than-perfect credit history, including CCJs and defaults
We understand every situation is unique
Here's the story of Bethany and Ben, two new customers we helped recently.
Bethany and her husband Ben left their office jobs in 2018 to set up a company of their own, which is now thriving. Last year they decided to sell their home and purchase a new build in their home town.
However, with the buyers of their existing property stuck in a chain, Bethany and Ben risked losing out on their dream home. Despite their perfect credit histories, their bank wouldn’t help as both Bethany and Ben are self-employed.
So Bethany and Ben came to Together, and we gave them a short-term bridging loan that effectively turned them into cash buyers to secure their new home. And when their own sale went through a few months later, they used the proceeds to pay off their bridging loan in full. Ready to see how we could help you?Figures based on an actual Together mortgage customer. All personal details anonymised. While we aim to lend within the shortest possible timescales, speed of funding varies with every case.
How we helped Bethany and Ben
0.85% per month
Time from application to funding
Common questions about bridging loans
What is a bridging loan?
A bridging loan is a short-term loan, which covers the gap between paying out for a new home before receiving the proceeds of the sale of another, they usually lasts up to 12 months.
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 much can I borrow, and how much deposit will I need?
We can lend you up to 70% of your property's value, so you’ll need at least 30% 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 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 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 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 development finance options available which can last up to 24 months.
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).
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.
Overall cost for comparison
For example: A bridging loan of £250,000 repayable after 12 months on a fixed rate of 13.08% would require a single payment of the capital borrowed plus the accrued interest totalling £289,843.38 including fees.
The total amount payable would be £289,843.38 made up of the loan amount (£250,000), plus interest on the loan (£34,843.38); arrangement fee (£5,000.00); and the redemption administration fee (£110.00).
The overall cost for comparison is 16.3% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
Ready to talk?Check my eligibility
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Your home may be repossessed if you do not keep up repayments on your mortgage.
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) Personal mortgages, 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 mortgages, Auction finance and Development finance.