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From hope to home

Downsizing bridging loans.

  • Multiple exit strategies accepted
  • Competitive service and speed
  • No ERCs or lender legal fees
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Bridging Lender of the year

Winner 2021 & 2023

• Over 1,200 reviews

• Over 1,900 reviews

Bridging Lender of the year

Winner 2021 & 2023

• Over 1,200 reviews

• Over 1,900 reviews

Bridging Lender of the year

Winner 2021 & 2023

• Over 1,200 reviews

• Over 1,900 reviews

Ready to find out more?
Speak to an expert

Why choose a Together bridging loan?

Mortgage key facts
  • 0.90%

    Rates from 0.90% per month
  • 70%

    Borrow up to 70% of the property's value
  • 12 months

    Available over standard 12 months
  • No monthly payments

*The maximum loan, rate and loan-to-value ratio offered may vary based on your individual circumstances.

Outside of a pink townhouse

Whatever your property goals, we can help get you moving

Whether you're looking for a more manageable space to meet your needs or unlocking savings on maintenance, utilities or mortgages; our downsizing bridging loans allow you to move to your new home and start your new life, knowing that you have the time to wait for the right offer on your current property.

Our expert team has years of experience helping our customers and dealing with a range of circumstances, such as income and credit status, and properties, including homes classed as non-standard.

Our downsizing bridging loans can be repaid over 12 months, without any early repayment charges (ERC) if you wish to repay quicker. Also, you'll not need to pay any lender legal fees on your loan.

We consider a range of different exit strategies, including the sale of a property, sale of other investments and refinancing to a longer-term mortgage.

Step ladder in old run down black and white room to newly refurbished full colour room

Helping you get from A to Buy with a downsizing bridging loan

Downsize the difficulties of moving to your new home with a bridging loan that allows you to move at your own pace.

No monthly payments - Pay back the amount you've borrowed, and any interest accrued, in one lump sum using the proceeds of the sale of your previous home.

No early repayment charges - You won't get penalised for paying back early. In fact, the faster you can repay your loan, the less it will cost you overall.

Maximum age limit of 85 - If you're downsizing to make the most of your retirement, we can help you if you're using a bridging loan this way. It's just common-sense lending.

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A close up of two men, one old and one young, sitting together talking whilst sat on a staircase.

Helping a couple downsize into their 'forever home'

When the chain collapsed in a couple’s complex house sale, we stepped in to help them bridge the gap and secure their downsized dream home.

The ask

A married couple  wanted to downsize from their home of 31 years, a four-bedroom farmhouse and equestrian centre in Macclesfield Forest, to a new build property in nearby Congleton. Competition for the £1m property was fierce and a sale was agreed, but a legal issue at the bottom of the chain meant the sale fell through three days before it was due to complete. Luckily, the developer selling their new home agreed to an extension on completion, but the couple needed to find a short-term plan to fund the purchase while they waited for another buyer.

The solution

We worked with the couple to provide a short-term bridging loan to secure the purchase of their new build home while they waited for the sale of their old come to complete. The couple were able to pay back the loan within the allotted 12 months, using proceeds from the sale of the farmhouse.

Exit Process

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.

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

We can lend up to 70% of your property’s value. However, please note that the maximum loan-to-value ratio we can offer might be adjusted depending on the nature of the property.

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.

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).

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.

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.

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

Yes – we have a maximum age of 85 years at the end of the term.

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.

Overall cost for comparison

For example: A mortgage of £155,000 payable over 12 months, on a fixed rate of 1% would require 11 instalments of £0.00 followed by 1 instalment of £179,353.33

The total amount payable would be £179,355.33 made up of the loan amount (£155,000) plus interest on the loan (£19,685.73), arrangement fee (£3,100) plus interest on this fee (£372), the broker fee (£980) plus interest on this fee (£117.60)  and the redemption administration fee (£100.00).

The overall cost for comparison is 15.7% APRC representative.

The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

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.