Eligibility
Bridging finance is a short-term funding solution tailored for property developers, renovators, and investors who need fast access to capital.
Whether you’re planning a property purchase, a refurbishment project, or a new property development, our flexible bridging loans offer the speed and adaptability needed to secure opportunities quickly.
Unlike traditional mortgages or bank loans, our lending criteria focus more on the property’s value and your ability to repay, rather than just income or credit history.
Our bridging loans are secured against the property in question, ensuring both security for lenders and flexibility for borrowers. We offer flexible repayment options, including rolled-up interest and payments, allowing you to manage cash flow effectively. Decisions are made quickly with a flexible approach, ensuring you get the funds you need without unnecessary delays.
General Eligibility Criteria for Bridging Finance (incl. Auction)
To determine if you qualify for a bridging loan, our lenders will most likely need the following:
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Loan Amount Needed: The amount you wish to borrow.
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Loan Term: How long you need the funds.
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Purpose of the Loan: Whether it’s for property purchase, renovation, or business cash flow.
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Exit Plan: How you intend to repay the loan (e.g., property sale or refinancing).
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Security Property: Details of the property offered as collateral, including value and any existing mortgages.
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Occupancy Status: Whether the property is owner-occupied, tenanted, or vacant.
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Credit History: An overview of your personal or business credit profile.
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Income Sources: Proof of ability to service interest payments, if applicable.
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Other Assets: Information about additional properties or assets.
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Key Individuals: For companies, details about directors and shareholders.
Development Finance
It is very likely our lenders will require the following information further down the line:
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Planning Consent: Detailed or outline with reserved matters.
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Development Experience: Essential for larger projects, although some lenders may consider first-time developers.
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Financial Appraisal: Including detailed build costs and cash-flow projections.
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Professional Team Details: Information on your contractor, architect, and surveyor.
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Security and Exit Strategy: A clear plan for loan repayment, such as property sale or refinancing.
Most development finance lenders do not require pre-sales but may prefer fixed-price contracts for build costs. Monitoring Surveyors may be appointed to oversee draw-downs, ensuring they align with your build programme and cash flow needs.
Refurbishment Finance
From those seeking refurbishment finance, our lenders may also require:
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Borrower CVs/Biographies: Details of relevant experience.
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Schedule of Works: A breakdown of planned renovations and associated costs.
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Contractor Details: Information about your chosen builders or contractors.
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Planning Consent: A copy if applicable.
Rebridging Loans
& Second Charge Loans
Rebridging loans are designed to refinance an existing bridging loan, providing borrowers with additional time or improved terms to complete their exit strategy. To qualify, lenders typically require a clear explanation for the refinance, a proven exit plan such as a pending property sale or long-term finance approval, and a track record of interest payments on the existing loan. Demonstrating progress on the underlying project can also strengthen your application.
Second charge bridging loans allow you to borrow against the equity in a property that already has a mortgage. To be eligible, you’ll need sufficient equity in the property, consent from the first charge lender, and a clear exit strategy to repay both loans. Lenders will also assess your credit history, income sources, and the value of the property. This type of loan can be ideal for accessing additional capital without refinancing your primary mortgage.
If you’re ready to discuss your eligibility or want to explore our bridging finance, refurbishment finance, or development finance options, get in touch with us today. Our experienced team is here to help you secure the right funding quickly and confidently.