BRIDGING LOANS

Bridging finance is a short-term loan, usually for a period of twelve months or less, secured against land or property.

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BRIDGING LOAN

Bridging loans provide the borrower with short-term finance secured against property assets where mainstream finance is unavailable.

This could be due to property not meeting banks criteria in terms of:

Requiring major refurbishment

The borrower’s adverse credit history

Restricted Timescale (such as an auction purchase.)

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Our Bridging Loan Services

Residential Bridging Loans

For standard residential first charge loans, we offer bridging loans from £50,000 to £5,000,000. Our bridging loan monthly interest rates are from 0.95% and have no exit fees!

Commercial Bridging Loans

We offer commercial bridging loans of up to 65% loan to value/purchase from £50,000 to £5 million. Our bridging loan rates are from 0.95% per calendar month, with terms from 1 month to 18 months - with no exit fees

Land with planning

Our specialised Bridging Loans are designed to provide you with the financial momentum you need to transform your land into a profitable reality.

Bridging Loan Rates & Fees

Please note these figures represent our best bridging finance loan rates which are subject to location and underwriting.

Our legal costs for setting up and exiting the bridging loan are as follows:
For standard residential first charge loans of up to £500,000 to individuals, the current fees of our solicitor are £750 plus VAT and disbursements. Our solicitors will issue standard enquiries on day 1 without an undertaking but won’t do anything with them until the undertaking is received.

Most loans will require a valuation report which BiG will instruct and the borrower will be liable to pay for. We will occasionally waive our requirement for a valuation report subject to our due diligence. Costs vary depending on the property and value but are typically between £250-£1,000.

	RESIDENTIAL	RESIDENTIAL	COMMERCIAL	Land With Planning
	1ST CHARGE	2ND CHARGE	1ST CHARGE ONLY	1ST CHARGE ONLY
Monthly Interest Rate	0.9%	1.25%	1%	1.1%
Arrangement Fee	1%	1%	1%	1%
Admin Fee	£500	£500	£500	£500
Max Loan Value	75%	65%	65%	60%
Min. Loan	£50,000	£50,000	£50,000	£50,000
Max. Loan	£5,000,000	£5,000,000	£5,000,000	£5,000,000
Min. Term	2 Month	2 Month	2 Month	2 Month
Max. Term	24 Months	18 Months	18 Months	18 Months
Exit Fee	None	None	None	None

Why choose BIG Property Finance?

SPEED OF RESPONSE

COMPETITIVE FINANCE RATES

PRIVATELY FUNDED

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Questions?

We’re here to help. Feel free to inquire about any aspect of our services or seek advice on your unique property finance needs. Just send us a message and you’ll receive a response shortly

HOW DO I GET A BRIDGING LOAN?

You can apply for a bridging loan by simply completing our online application form and one of our sales representatives shall be in touch with you.

Alternatively, you can read our criteria guide on bridging loans to give you an idea on our best bridging rates and costs available. Please note that rates are subject to location and underwriting.

WHAT IS A BRIDGING LOAN & HOW DO THEY WORK?

Typically, a property owner can raise up to 70% loan to value to bridge the capital shortfall and loans can be placed as quickly as 48 hours.

BiG Property Finance doesn’t have any hidden exit fees, unlike many lenders; however, we would advise you to think carefully about your exit strategy. This might, for example, involve getting a mainstream mortgage or a buy-to-let mortgage, or selling the property altogether.

Check out our guide on what is a bridging loan and how they work.

WHEN WOULD YOU USE A BRIDGING LOAN?

A bridging loan can be useful to raise capital for any legal purpose but, in typical circumstances, borrowers can obtain a bridging loan for the purposes of:

• Buying to let
• Auction property purchases
• Development or refurbishment to get a property to acceptable condition to mortgage
• Houses of multiple occupancy (HMO)
• Borrow against value rather than purchase price
• Raising debt secured against two or more properties with equity.

However, more recently, there has been a growing trend among borrowers to use bridging loans because high street and private banks are taking longer to process applications for larger residential loans.

WHAT IS THE CRITERIA FOR A BRIDGING LOAN?

Check out our full guide to bridging loan eligibility criteria here.

Residential Bridging Loans (1st charge)

Maximum 1st Charge Loan — 75% LTV
Minimum loan size – £50,000
Minimum term — 1 month
Maximum term — 18 months. 6 month extension available upon application
Interest Rate from 1% per calendar month terms from 1 month to 18 months with no exit fees.

Residential Bridging Loans (2nd charge)

Maximum 2nd Charge Loan — 65% LTV
Minimum loan size – £50,000
Minimum term — 1 month
Maximum term — 18 months. Extensions can be agreed in certain circumstances
Interest Rate from 1.25% per calendar month terms from 1 month to 18 months with no exit fees.

Commercial Bridging Loans

Maximum 1st Charge Loan Only— 60% LTV
Minimum loan size – £50,000
Minimum term — 1 month
Maximum term — 18 months. Extensions can be agreed in certain circumstances
Interest Rate from 1.1% per calendar month terms from 1 month to 18 months with no exit fees

WHEN TO USE A BRIDGING LOAN FOR YOUR RESIDENTIAL OR COMMERCIAL PROPERTY?

A bridging loan can be useful in raising capital for any legal purpose, but in typical circumstances borrowers can obtain a bridging loan for the purposes of:

Buying to let
Auction property purchases
Development or refurbishment to get a property to acceptable condition to mortgage
Houses of multiple occupancy (HMO)
Borrow against value rather than purchase price
Raising debt secured against two or more properties with equity

WHO IS ELIGIBLE FOR A BRIDGING LOAN?

BiG Property Finance will consider any business or individual that is a property owner. We can provide a quick decision and expedite a loan completion as we don’t carry out time consuming credit checks.

Check out our guide to bridging loan eligibility here.

HOW MUCH DOES A BRIDGING LOAN COST?

Bridging finance is generally more expensive than a conventional mortgage but, if it is the only option between you and achieving your goal, it could be a price worth paying. It may not be as expensive as you think; see more information about bridging loan rates and costs.

Testimonials

“

Amazing support by the team and really quick turnaround. I can highly recommend BiG Property Finance and we work closely with them 🙏🏼
Simone Rose

“

Working with Dan is simple and easy with quick responses and a desire to support wherever possible.
Ashley Clements

“

Dan and the team always get back to you when they say they will
Steve Goulden

“

Excellent Service always. Great team
Carl Smith

“

Top Quality - That refers to both the staff and service. We here at Winning Commercial Finance Ltd are delighted with the service offered by Mark, Dan, Kate and Charlotte in several deals we have completed for our clients. Always completing on time which is particularly critical with bridging loan deals.
Tim Winn