New home refurbishment bridging loans.
- Remodel before selling your old home
- Flexible on income & credit status
- On a huge range of property types
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.
0.99%Rates from 0.99% / 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.
Nobody wants to live in a building site
If you've found your perfect new home but it needs doing up, a Together bridging loan could be the answer. Here's why:
- Fast turnaround. We'll work quickly and flexibly, so you can secure your new property and get the keys. If you've found your perfect new home and it needs some refurbishing to make it feel like home, a Together bridging loan could be the answer. Here's why:.
- No monthly payments. You'll just pay back what you borrowed, plus any interest, in a lump sum within 12 months as soon as your old home sells. And because there are no Early Repayment Charges, the sooner that happens the less it’ll cost you.
- Flexible and pragmatic. We apply a common-sense approach to lending, and can often consider circumstances that some other lenders can't. Have a less-than-perfect credit history or rating, or there's something about your new property that means other lenders are struggling – say, it's made of non-standard construction – let's talk.
Overall cost for comparison
For example: A bridging loan of £234,600 repayable after 12 months on a fixed rate of 9.00% would require a single payment of the capital borrowed plus the accrued interest totalling £261,849.24 including fees.
The total amount payable would be £261,849.24 made up of the loan amount (£234,600), plus interest on the loan (£22,215.37); arrangement fee (£4,692.00); interest on these fees (£231.87); and the redemption administration fee (£110.00).
The overall cost for comparison is 11.6% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
Common questions about bridging loans
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 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 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.
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).