How to get a Bridging Loan
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Understand How to Get a Bridging Loan
A bridging loan is fast, short term finance secured against property. It helps you move when timing matters, or when a standard mortgage is not realistic yet.
Landlords, investors, and developers use bridging finance most often. However, it can also work for some residential situations. The key is speed and flexibility, backed by a clear repayment plan.
If you want to sense check figures as you read, use our Bridging Loan Calculator to estimate costs and cash requirements for your project
What a Bridging Loan Can Be Used For
Bridging loans suit time sensitive property situations, including:
- Buying a property at auction
- Purchasing an un-mortgageable property and funding works to make it mortgageable
- Refurbishment projects where the property is not currently habitable
- Buying land for residential or commercial development
- Chain breaks where you need to complete without selling first
- Fast completions where you need to move like a cash buyer
- Raising capital for a time sensitive bill, tax payment, or business need
- Purchasing an investment or commercial property where a mortgage is too slow
In short; if a delay costs you the deal, bridging can keep the project moving.
Real Life Example: A Chain Break That Needed Speed
A couple agreed to buy their dream home for £1.4m, but their own home had not sold and the seller wanted a quick, certain completion.
We arranged a bridging loan so they could complete the purchase in three weeks, without waiting for their sale. We set the bridging on a six month term, giving them headspace to sell properly.
Their sale completed three months later and they repaid the bridging immediately. As a result, they secured the new home without a panic discount or rushed decisions.
Speak To An Expert
Giving you peace of mind while you sit back and let us do all the work for you while finding you the best deal for your financial situation.
Who Can Get a Bridging Loan?
Most borrowers can be considered for bridging if:
- The loan can be secured against property
- The numbers stack up
- The exit strategy is realistic and provable
The exit strategy sits at the centre of the application. It explains how you repay the loan in full at the end of the term.
Common exit routes include:
- Sale of a property
- Refinance onto a mortgage once the property qualifies
- Funds from another verified source
If your exit is refinance, lenders will want confidence you can qualify for the mortgage later. That may mean an agreement in principle, affordability evidence, or a profile that fits the likely lender.
This is where a specialist broker matters; the right lender match keeps bridging fast and predictable.
How to Get a Bridging Loan
When you use a broker, the process is usually straightforward because the broker drives it. Here is what lenders typically need.
- Identity and Background Checks
You will provide proof of identity and address. Lenders will also review your wider profile, including experience and financial position.
If you apply through a company, you will also need company documents and ownership details.
Credit history can matter, but it is not always the deciding factor. Strong security and a credible exit often outweigh a less than perfect credit file.
- Property Details
You will need to provide:
- Property address and type
- Purchase price and expected value
- Tenure
- Current condition and intended use
- Your plan, including any works and timelines
If your exit relies on resale value or rental income, lenders may ask for supporting figures.
- Loan Details and Structure
You will confirm:
- Loan amount
- Term length
- Purpose of the loan
- Security offered
- Deposit or equity position
Loan to value varies by lender, property type, and risk. Many bridging loans sit around 75% LTV, with higher levels available in specific scenarios.
Lenders can also structure interest to suit the project, including rolled up interest rather than monthly payments, subject to criteria.
Speak To An Expert
Giving you peace of mind while you sit back and let us do all the work for you while finding you the best deal for your financial situation.
Costs to Review Before You Commit
Bridging can be extremely effective when used correctly. It is also a serious financial commitment.
Costs typically include:
- Arrangement fee, often around 2% of the loan
- Lender administration fees
- Valuation fees
- Legal fees
- Exit fee on some products
Every lender structures costs differently. Always review the full breakdown and total cost, not just the headline rate.
Why People Use Bridging Finance
The benefits are simple:
- Speed; often weeks rather than months
- Flexibility for complex or unusual properties
- Short term funding that keeps transactions moving
- Ability to buy before selling, or complete during a chain break
- Solutions for properties that do not yet qualify for a mortgage
Bridging is not designed to be cheap. It is designed to work when time is the problem.
Getting a Bridging Loan With Less Stress
Bridging works best when the process stays controlled, structured, and properly placed.
At GPS Financial, we:
- Assess your project and exit strategy properly
- Place cases with lenders that genuinely fit the scenario
- Manage valuation and legal progression
- Keep everything clear so you know what is happening and why
For peace of mind, GPS Financial is authorised and regulated by the Financial Conduct Authority. You can verify our details on the FCA Financial Services Register
Speak to a Bridging Loan Specialist
If you are considering a bridging loan, speak to GPS Financial for straight advice and a clear plan.
We will review the property, timeline, and exit strategy; then explain your options clearly so you can move forward with confidence.
Call 029 2267 7707 or enquire via our contact us page
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