Chain break bridging

When the chain is under strain and you need a loan, snappy.

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

Need to act quickly to buy your new home? Has the sales chain fallen down or broken? We may be able to help.

Make an enquiry

We think looking at your individual situation, combined with our common-sense approach to lending, makes better sense for everyone.

Helping you repair a broken chain

Selling your home can be stressful, especially if you’ve found your perfect new home, and the chain falters or breaks. Our short-term regulated bridging loan could help you buy your new home while you’re still selling your existing property. And once sold, you simply pay back the bridging loan.  

 

We’ll consider personal bridging loans for:
  • ex-council houses, flats and maisonettes
  • high-rise properties (yes, even ones above 6 floors)
  • properties with poor valuations (when the property is in a less than perfect condition)
  • non-standard constructions (when the property you want is a little out of the ordinary)
  • normal brick-built houses, flats and maisonettes
  • properties where more than 40% will be owner occupied

 

Key features
  • Loans up to £1m (we may consider more on a case-by-case basis)
  • Up to 70% LTV (loan to value)
  • CCJs and Defaults accepted
  • Rates from 0.65% a month up to 50% LTV
  • Rates from 0.75% a month up to 70% LTV
  • Available for 12 months
  • Our standard personal bridging loan can be secured against a single property as a first charge. Use of an additional property as security for the loan is accepted, either a first or second charge can be taken against the additional property
 
With added value

A personal bridging loan gives you the control to buy your new home quickly, even if there’s a break in the chain. So you don’t miss out on the home of your dreams. There are no monthly repayments to make, as interest is rolled-up for the term of the loan. Also, we don't hit you with early repayment charges if you want to pay off your bridging loan early.

 

Overall cost for comparison

A rolled-up bridging loan of £ 1,094,218 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 £1,220,481.92 including fees.

The total amount payable would be £1,220,481.92 made up of the loan amount plus interest (£102,645.20) and broker fee (£0.00) and arrangement fee (£21,456.00) plus interest on these fees (£2,012.72) and the redemption administration fee (£150.00).

The overall cost for comparison is 9.39% APRC representative.

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

 
8 steps to getting a personal bridging loan 

When you apply for a personal bridging loan with us, one of our qualified advisers will guide you through each step of the process:

  1. We’ll make sure we understand your circumstances fully before recommending a suitable bridging loan. If you’re happy, you’ll receive a ‘mortgage illustration’ providing all the relevant details about the product you’re applying for.
  2. Our advisers will take you through the full application process. We’ll tell you exactly what you need to do, and when, including sending us supporting documentation. For example, proof of your repayment strategy.
  3. When we have everything we need, we’ll assess your application and supporting information.
  4. Then a surveyor will visit the property to ensure it’s loan-worthy. 
  5. If it is, we’ll make you a loan offer, which means we’ve accepted your loan application.
  6. Our advisers will tell you what’s happening at each stage and, importantly, you’ll have their contact details if you want to get in touch. 
  7. Your conveyancer or solicitor will start to discuss exchanging contracts with the sellers and agree a date to complete the sale. This is a good time to take out buildings insurance.
  8. Completion is the date you get the keys. We’ll transfer your funds to the seller’s solicitor. They’ll hand over the keys and there you have it... welcome to your new home. 

 

Our lending criteria
  • Maximum LTV (loan to value) – 70%
  • Maximum loan – £1m (we may consider more on a case-by-case basis)
  • Repayment strategies – we accept sale of existing property and proceeds of probate. Where an additional security is taken, remortgage can be used in combination with sale of existing property
  • Maximum age – No maximum customer age where sale of existing property or proceeds of probate is the agreed repayment strategy. Where using remortgage as part of the repayment strategy, maximum age is 80 at end of term
  • Credit profile – we accept CCJs and Defaults (even in the last 12 months) 
  • We consider most property types – must be >40% residential use

 

 

Same day enquiry

We’re here between 9am and 8pm Monday to Thursday and 9am to 7pm on Friday. If you contact us by 2pm we guarantee to get back to you the same day. If it’s after 2pm, we can’t promise we’ll be able to reply on the same day, but we’ll do our very best.

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

Build: 1.1.4.29960