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Bridging finance typically costs between 0.5% to 1.5% per month in interest, with arrangement fees of 1-2% of the loan amount. Additional costs may include valuation fees, legal fees, and exit fees. The exact cost depends on factors like loan-to-value ratio, property type, and your credit profile.
Bridging finance can be arranged in as little as 3-7 days for straightforward cases with all documentation ready. More complex cases typically take 2-3 weeks. Our team works efficiently to secure funding as quickly as possible for time-sensitive transactions.
Bridging finance can be used for property purchases (especially at auction), preventing property chain breakdowns, property refurbishments and developments, business cash flow gaps, and buying property before selling an existing one. It's versatile for any situation requiring short-term funding with a clear exit strategy.
Bridging finance is typically secured against property or land. This security allows lenders to offer larger loan amounts and more competitive rates compared to unsecured loans. The property used as security can be the one being purchased or another property in your portfolio.
Most bridging lenders offer a maximum loan-to-value (LTV) ratio of 70-75% for standard cases. For strong applications with excellent security, some specialist lenders may go up to 80% LTV. Development bridging can sometimes achieve higher LTVs based on the gross development value (GDV).
Bridging loans are typically repaid through a clear exit strategy, which should be established before taking the loan. Common exit strategies include selling the property, refinancing to a long-term mortgage, completing a development project, or receiving funds from another source like an investment or inheritance.
