New home refurbishment bridging loans.
- No exit or lender legal fees
- Second Charge Bridge available
- Multiple exit strategies accepted
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 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.
0.90%Rates from 0.90% per month
70%Borrow up to 70% of the property's value
12 monthsAvailable over standard 12 months
✓No monthly payments
*The maximum loan, rate and loan-to-value ratio offered may vary based on your individual circumstances.
Get your new home into move in condition
Whether you need to remodel your existing property ready for sale or your new home needs some renovations before you move in, a bridging loan can give you the funds to get your house in order.
Our new home refurbishment bridging loans can also allow you to borrow against a property that already has a mortgage outstanding. This is known as a second charge bridging loan.
Our bridging loans are repayable over 12 months with no early repayment charges (ERC) or lender legal fees included. We consider a range of different exit strategies, including the sale of the property, sale of other investments and refinancing to a longer-term mortgage.
Our new home refurbishment bridging loans can also allow you to borrow against a property that already has a mortgage outstanding. This is known as a second charge bridging loan
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.
- 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.
Overall cost for comparison
For example: 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.
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 depending on, what you will be using the bridging loan for, and your personal circumstances. The maximum loan-to-value ratio we can offer may be reduced based 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’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.