COMPARE BRIDGING LOANS
LEADING UK BROKER FOR
BRIDGING LOANS SINCE 2004
BRIDGING LOAN COMPARISON
Get the best deal
As a specialist bridging loan broker, our aim is to help you source the best possible financing for your property project. With over 300 bridging loan lenders and 150 development finance lenders on our database, we know the market better than anyone. Our experienced advisors will clear a path through the funding maze, ensuring a smooth and efficient application process and the best possible financing outcome for your business.
- Our lender comparison table allows you to quickly compare typical terms and criteria available from multiple lenders for different types of deal.
- Scroll down to compare bridging finance rates, LTV and criteria so you can find the right product for your project.
- Alternatively, contact us directly for a customised quote within the hour.
The products below are the typical rates and LTV’s that are available. However, all deals are subject to underwriter and credit committee approval, so the terms may change. To give you the best chance of approval, our in-house underwriters will check your application before full lender submission. Once checked, your application will then be submitted to the lender for an agreement in principle.
|Type||LTV||Interest Rate||Minimum Loan||Maximum Loan||Loan Term||Arrangement Fee||Exit Fee||Credit Requirements||Apply Now|
|Prime unregulated residential bridging loans England||Maximum LTV|
|0.75%||£75,000||£5,000,000||3-24 Months||1.2%||N/A||Clean Credit||Apply Now|
|Prime unregulated residential bridging loans in the South of England||Maximum LTV|
|0.49%||£75,000||£4,000,000||3-24 Months||1.45%||N/A||Clean Credit||Apply Now|
|Unregulated residential refurbishment bridging loans England||Maximum LTV|
+ 100% refurb cost
|06.8%||£150,000||£25,000,000||3-24 Months||2%||N/A||Clean Credit||Apply Now|
|Unregulated residential non status valuation only bridging loans in England||Maximum LTV|
|1.45%||£50,000||£1,500,000||3-24 Months||2%||N/A||None||Apply Now|
|Prime unregulated residential bridging loans in London and South East of England||Maximum LTV|
|0.5%||£1,000,000||£30,000,000||3-24 Months||2%||N/A||Clean Credit||Apply Now|
|Second charge unregulated bridging loan in England||Maximum LTV|
|0.85%||£100,000||£5,000,000||3-24 Months||2%||N/A||None||Apply Now|
|Commercial bridging loans in South East England||Maximum LTV|
|0.85%||£200,000||£25,000,000||3-24 Months||2%||N/A||Clean Credit||Apply Now|
|Land bridging loans in the South of England||Maximum LTV|
|0.8%||£1,000,000||£30,000,000||3-24 Months||2%||N/A||Clean Credit||Apply Now|
|Development exit bridging loan south of England||Maximum LTV|
|0.75%||£200,000||£5,000,000||3-24 Months||1-2%||N/A||Clean Credit||Apply Now|
|Semi commercial bridging loans||Maximum LTV|
|0.80%||£100,000||£10,000,000||3-24 Months||2%||N/A||None||Apply Now|
HOW TO APPLY FOR A BRIDGING LOAN
1. Decide what you need from your bridge loan.
- How much do you need to borrow?
- Do you need to raise refurbishment money?
- How long do you need to borrow it for?
- How do you intend to repay the loan – can you get an “exit in place” beforehand.
- Will you service the interest or have the total interest deducted from the gross loan so there are no monthly repayments.
- Will you be borrowing in an SPV company?
- Do you have clean credit. This must be disclosed to your broker at the outset, as it will help select the most suitable lender for your circumstances.
2. Gather the relevant information that will be required for your application, such as:
- Auction pack
- Valuation report if there has been one done in the past.
- Title plan/photos/CGI or site plan if you think it would be useful.
- Copy of planning consent if relevant
- Copy of business/development CV if a high value purchase and/or complex transaction i.e heavy refurbishment.
- Asset & liabilities statement. Required for all deals.
- Current copy of credit report.
- AST/lease if the property is occupied.
- Any other supporting documents that you feel is relevant i.e business plan or management team bio’s.
Either complete the above enquiry form or call an expert adviser.
Once you’ve applied and sent the relevant documents, you should receive an initial decision within 24 hours. For straight forward deals, this could be in 1-2 hours.
If you’re approved, a valuation will be instructed. This usually wakes a week to be done for smaller properties, but for large/complex transactions, can be 10 business days.
Assuming the valuation is okay, the legals will be instructed. This usually takes another week or so, with the total transaction time being around 3-4 weeks. However, for urgent deals, this can be reduced to 1-2 weeks if required.
All rates and terms noted above are subject to change without prior notice and do not constitute an official offer of finance. You should not commit to any property purchase based on the above and should always take legal advice before progressing with any loan application.
WHAT IS A BRIDGING LOAN?
A bridging loan (sometimes referred to as bridging finance) is a form of short term finance that is secured on a property asset. The difference between bridging finance and a mortgage is that the loan can be secured against a property that may not be suitable for a normal term loan i.e an uninhabitable property that is to be refurbished, a property who’s title will be changed, or if the class of use of the property is to be changed throughout the course of the loan. In fact there are many different uses for a bridging loan.
WHO WOULD QUALIFY FOR BRIDGING LOANS?
- Individuals either employed or self employed
- Individuals who cannot prove their income
- UK Ltd Companies
- Individuals with Poor Credit
- Individuals with Equity in their Property
- UK Ltd Companies with Poor Credit
- Individuals with almost any credit status good or bad
LOOKING TO GET THE MOST COMPETITIVE BRIDGING LOAN RATE?
When looking for property development finance for your property project, it’s important to do your research and to really understand the options that are available to you.
With large loans – it’s important to find a bridging loan with a competitive rate and flexible repayment terms. Here at Tiger Financial we can help you source a bridging loan that meets the needs of you and your business.
Something we see a lot from client’s is their desire to relentlessly hunt for the cheapest rate, or we hear that “bridging finance is too expensive” compared to other forms of property finance.
There will always be a trade-off between flexibility, speed of completion, simplicity of the application process, and the cost of the money. At one extreme, you may have a no valuation non status loan direct from a family office or private investor, with the cash available in a few days.
This type of finance suits some people some of the time, but comes at a price. However, if it means you can take advantage of an urgent lucrative opportunity, or indeed, stop yourself from entering a negative situation, then this could be an acceptable “opportunity cost”.
At the other end of the extreme, you may be offered a super cheap rate, which seems irresistible. However, the very cheap rates are offered by lenders with funding lines from the big banks. This means you have to have squeaky clean credit, the underwriting will be time consuming, slow and often onerous, there is no flexibility outside of their rigid criteria, and often times a faceless credit committee may say no. This may be the cheapest rate, but when it takes two months to complete, and having jumped through multiple underwriting hoops, is this really an acceptable “opportunity cost”.
Instead, when making a decision to use bridging finance, investors should focus on what is genuinely important to them, and what truly represents a viable opportunity cost:
- Speed of decision: many bridging firms have a shallow decision making process, which is critical if you are trying to urgently secure a property deal.
- Flexible criteria: a bridging loan can fund a property purchase when other forms of finance is unavailable, such as when buying under value, or buying a property that is uninhabitable.
- Improved cashflow: interest can be rolled up so you do not service the loan monthly & instead pay everything at the end
- LTV up to 75%: based on the value, rather than the purchase price.
- Non Status: many bridging firms will lend regardless of the credit profile of the borrower.
- Simple underwriting: no proof of income, no bank statements, some lenders don’t even need an application form or a valuation.
Bridging may be more expensive, but please always bear in mind the “opportunity cost”. If bridging allows you to complete a profitable project that wouldn’t otherwise have been possible, isn’t it worth it?
At Tiger Financial, we are bridging loan and development finance experts. Using our granular knowledge of the sector, our experienced brokers work to arrange industry leading funding solutions across residential and commercial properties throughout the UK.
We are fast, reliable and always available to our clients. Just the way you need us to be. Get in touch now to see how we can help your business!