Our bridging loans are available throughout England and Wales but you do not necessarily need to be living in England or Wales.
We do not charge any up front fees at all. The only fees you may need to cover to progress your application are valuation fees. If we do not complete on your loan, we do not charge a fee. Feel free to contact our friendly team to chat through your proposition.
Typically 10 days but we have completed on loan in 48 hours. We will work closely with you and your solicitor to meet the required deadlines. Due to our personal service approach, we specialise in fast completions.
We typically lend from £50,000 to £2m and up to 70% Loan to Open Market Value of the property you are offering as security.
We will provide you with a decision in principle on the same day as your application and often within 1-2 hours of your enquiry.
We are able to offer short term funding against a wide range of property types. If you require a regulated mortgage contract, we require your application to be submitted by an intermediary authorised and regulated by the Financial Conduct Authority.
You can choose to either service your loan interest monthly or you can choose retained interest, which covers the monthly interest payments for up to 12 months.
We do not offer ‘standalone’ second charge bridging loan facilities behind an existing mortgage. However, we may consider a second charge loan to top up a principle loan secured on another property.
We offer a number of simple and quick methods of payment including.
- Standing Order
- Online Payments
- Internet Banking
- Telephone Credit / Debit Card Payments
- Cheque by post
Different payment methods will take different periods of time to credit your account. If you have any queries, contact our team who will be able to assist. Please have your Loan Reference Number to hand which can be found on your Completion Letter, which you will have received within 7 days of your loan drawing down.
Yes, most clients use a simple standing order to make payments but you are free to change your method of payment. Please ensure your method of payment allows for enough time for cleared funds to credit your account in time for your payment date. To change your payment method, please contact us.
Yes, you are free to make overpayments to your loan account without penalty at any point after the initial term. Overpayments will reduce the capital balance of your account and your monthly interest payments will fall. We do not charge exit fees on our standard loan facilities.
We understand that circumstances can change. It may be possible to extend your loan term at the end of your facility. Please contact us to discuss your particular circumstances and we will, of course, be as helpful as we are able.
When it comes to redeeming your facility, we offer a quick and simple process. Please click here for full details on how to arrange the repayment of your loan account.
If you change your name, address or telephone number please email us at email@example.com to ensure our records are up to date.
If you have a query about a current or new loan application, and you have not been assigned a Case Manager, please contact our Customer Relationship team at firstname.lastname@example.org or call us on 0151 639 7554.
Yes, applications will be considered under our portfolio range from limited companies and limited liability partnerships (LLP) registered and trading in England and Wales.
Yes, each case is manually underwritten and reviewed on its own merits. We do not credit score and certainly do not use computers to make credit decisions. Our underwriting is carried out by a human with common sense.
Each case is independently priced – we do not have ‘products’. When we price we do not provide low headline interest rates with unrealistic loan periods or add unexpected expensive fees and hidden charges. Once we have priced we won’t change it during the application process.
An applicant must be a minimum of 18 years of age and a maximum of 80 years of age at the end of the loan term.
No, affordability is assessed independently for each case. Loans can be serviced by way of retained interest and / or serviced on a monthly basis dependent upon your client’s circumstances. For further details, please contact our Customer Relationship Team at email@example.com or call us on 0151 639 7554.
Yes, the minimum loan amount is £25,000 and for further any advances it is £10,000.
For non-portfolio clients, a lending limit of £1,000,000 will apply.
For portfolio clients, a total loan exposure per borrower of £2,000,000 may be advanced.
A bridging loan is a short-term loan (usually between 1 and 12 months) designed to move a project from A to B. They can be arranged within days and used by individuals or businesses for any purpose until their next stage of financing becomes available usually from a property resale or finance. A bridging loan shares similar underwriting and legal processes as a mortgage with a charge secured on property but typically completes in 10 days dependent upon the legal process.
The key consideration is how you will repay the loan within a 12 month period by way of either property sale, refinance or funds from another source. Bridging loans are designed to move a funding scenario from A to B rather than as a long-term funding solution.
Yes, we require a RICS valuation from one of our panel valuers on the property you are offering as security. We do not offer ‘free valuations’ and then charge a valuation insurance premium which can often be more expensive than a valuation itself – and you lose all the benefits of an independent survey of the property!
Yes, you will require a solicitor to represent you during the bridging loan process. They will work with a BFS panel solicitor. Please note that we are unable to accept a solicitor acting for you from a firm without two or more partners. When choosing a solicitor to act for you, consider their experience in acting on bridging loan transactions, which are much faster than a standard mortgage.
Bridging loans will be more expensive than standard mortgages as lenders carry out the same amount of work for up to a 12-month return rather than up to 25 years. They may also be prepared to take more risk than a standard mortgage product and this is reflected in the pricing. BFS do not have products but price each case on its own merits. BFS are totally transparent about pricing and do not hide fees in the small print or provide short-term ‘teaser’ rates.
Rates can be determined by Loan to Value, security type, profile of borrower, size of loan etc. The headline interest rate is not the only factor to consider when comparing loan offers – it is the total cost of funds taking into account all fees and how interest is calculated. Following a short discussion, the BFS team are experienced enough to immediately provide you with a written quotation.
Bridging Finance Solutions Group is fully authorised and regulated by the Financial Conduct Authority (FCA). In a highly dynamic sector, we are long established and have a long-term commitment to the short term finance sector. As a principal lender, you can be sure that we will always have the funds to complete your cases.
At BFS, we take client confidentiality very seriously indeed. We never pass on your details or disclose your personal information to a non-related party for any reason whatsoever. Please see our GDPR complaint data protection policy on this website. Full details of how we protect and process your data in a ‘Fair Processing Notice’ are provided on any loan illustration that we provide you.
BFS has worked closely with major UK auction houses for years now and we are continuously delivering funds well within the required timescales for auction deadlines. Even when additional properties are offered as security or second charges are a factor our dedicated team work tirelessly with you and your solicitor to ensure there are funds in place in plenty of time.
Unlike the banks and some other major lenders, we will only ever ask for the minimum financial and personal information that is necessary to complete our due diligence. Once this is produced we move quickly towards completion with the minimum of fuss for you.
As a principal lender of our own money, we are able to assess a deal extremely quickly, decide whether we want to lend and prepare formal loan terms. This is typically done within a few hours. From there we are not required to refer this for further approval; a process which can be both time-consuming and confusing for an applicant. It would only be in extreme circumstances and a fundamental change in the loan structure that our decision and/or pricing of a deal would change.
We will consider all manner of adverse credit applications and provide a very quick decision for you. Poor credit does not need to be a reason to prevent you from buying at auction. Obviously if we are to be repaid by a standard mortgage or buy-to-let mortgage you would need to have some certainty from a mortgage company that they will help you do this.
Certainly not! Our clients range from experienced property investors and landlords right down to clients purchasing their very first investment property. Experience may only count when you come to re-finance. Mortgage lenders and banks can have widely differing approaches to property investors so it is always worth checking with them before you proceed with your bridging finance.
As with most areas of finance, costs, along with service, trust and deliverability, is a major factor which should be considered. An incorrect choice at the start can lead to a short-term finance contract becoming very expensive further down the line. Our role at BFS is to ensure you have absolute clarity at the beginning of your journey with us, that you understand all fees and costs associated with the contract and have a firm answer to all your “what if’s”. It is only when we are at this stage that we formally proceed.
Absolutely. Many of our more experienced investors have taken specialist taxation advice from their accountants and they have often transferred property into a limited company and they then choose to purchase all future property through this vehicle. This process is very simple (once you have taken the required advice) and we are just as comfortable lending to limited companies (SPV’s) or individuals.
Yes you can. Many of our clients elect to offer additional property on either a first or second charge basis. The benefit here is it can reduce and, in some cases, reduce the need altogether for a cash input. This can often mean a client can keep their liquid funds to one side and use this towards property refurbishment or development to ensure the project is turned around without delays. We would be delighted to look at any new proposal on this basis.
Up to 65% of the property value after the completion of the refurbishment / conversion works, depending on the size and complexity of the loan.
Initially a full schedule of build costs and Planning Permission for conversion projects. Structural Warranties and Collateral Warranties may also be required for conversion projects.
We will arrange for our Valuer or Quantity Surveyor to visit to certify your works – there can be more than one visit if required.
Yes, as long as you can demonstrate that you are able to refinance when the works are complete.
Yes, we can lend against Grade 2 Listed buildings, if you can provide confirmation that Planning and Heritage approval has been granted.
We would obtain a specialist report to ascertain the extent of the works and costs involved to remedy.
Yes, that’s what we specialise in. As long as you have sufficient funds to carry out the works or if we have agreed to fund then this is acceptable.
Up to 65% of the gross development value, including interest and fees. We typically cover 100% of build costs.
Development funds are released in arrears against certifications from our Monitoring Surveyor.
There is no set schedule and you can call for our monitoring Surveyor/Valuer to visit as little or as often as you like.
Up to 24 months
You only pay interest on the amount drawn, not the full available facility. After the initial 3 month period, interest is calculated daily.
Interest is charged monthly in arrears and is built into the overall facility, so you don’t have to pay out of your own funds.
Yes. We simply request confirmation that your current planning conditions and building control inspections are in order together with the appropriate structural warranty.
Yes. If you have the relevant experience then we are happy to support self build projects that don’t have an appointed Contractor and JCT.
A structural warranty from a suitable provider or an Architects Certificate. Collateral warranties may be required from the professional team depending on the size of the scheme.