We arrange bridge to let finance for investors, first-time and experienced landlords for residential buy to let property.
Offering up to 80% LTVs (or up to 100% with additional security), completions for amounts under £300k in just 3 days, 7 days for loans up to £750k or £250m from 2 weeks. We're experts in fast, specialist, property financing priding ourselves on being able to get you the best deal.
We consider all types of credit circumstance including adverse or bad credit and don't perform automated credit checks when you enquire so there's no footprint on your credit history.
Arrange a call with our experts today and get our best no obligation quote.
Bridge To Let Finance Lending Criteria
| Loan to value (LTV) | Up to 80% maximum (100% with additional security) |
| Loan term | 1 to 24 months |
| Loan amount | £26,000 up to £250m |
| Interest options | Rolled-up, retained or serviced |
| Interest rates | From 0.44% |
| Decision | Immediate decision in principle |
| Completion | Up to £300k in 3 days Up to £750k in 7 days Up to £250m from 2 weeks |
| Early repayment fees | None |
| Availability | Secured on property in England, Scotland, Wales and Northern Ireland Individuals, Companies, SPVs No credit & adverse credit considered |
| Exit strategy | Sale or refinance (for example a buy-to-let mortgage) |
Who is a bridge to let loan for?
Bridge to lets are suitable for those in the buy to let market, such as:
- Experienced landlords & property investors
- First-time landlords
- Limited companies, SPVs and offshore companies
- Ex-pats and foreign nationals
- Property developers
The types of typical properties purchased using bridge to let finance include:
- Buy to let residential purchases & re-financing
- Holiday lets & holiday parks
- Residential refurbishments
- HMOs
What is a bridge to let?
Simply put, bridge to let loans are a short term loan designed for the buy to let market, enabling investors to purchase a property they’d otherwise be unable to finance via a traditional buy to let mortgage.
Bridge to let loans refer to bridging loans that finance purchases of rental property, typically those needing light refurbishment or sometimes full renovation to complete before being able to be let to tenants.
Once the property refurbishment or renovation has been completed the bridging loan will be refinanced using a traditional buy to let mortgage.
Who is a bridge to let loan for?
Bridge to lets are suitable for those who wish to purchase property in the buy to let market, such as:
- Experienced landlords & property investors
- First-time landlords
- Limited companies, SPVs and offshore companies
- Ex-pats and foreign nationals
- Property developers
What kind of properties can I use a bridge to let for?
The types of typical properties purchased using bridge to let finance include:
- Buy to let residential purchases & re-financing
- Holiday lets & holiday parks
- Residential refurbishments
- HMOs
What else is a bridge to let loan called?
Bridge to let loans are known by many names but the common ones are:
- Bridge-to-let finance
- Buy to let bridging
- A BTL bridge
What are the interest rates for a bridge to let loan?
The interest rate for bridge to lets typically range between 0.44% to 2% per month but do vary from lender to lender. Call us today on 01202 612934 for the best rates available.
What LTVs can I get with bridge to let finance?
Bridge to let finance, like standard residential bridging loans, enables you to secure funding up to 80% against the residential property purchase price, providing its the current market value. The charge must also be as a 1st charge on the property.
It's also possible to achieve a much higher LTV where the borrower is able to offer other assets as additional security such as additional properties.
How much can I borrow?
You can borrow up to 80% of the property value depending on the property type. Bridging finance secured against residential property enables you to achieve a higher LTV than commercial property.
What exit strategy options do I have with bridge to let finance?
Whilst standard bridging loans are ideal for developers who want to sell a property shortly after purchasing, Bridge to Let loans are designed for landlords intending to retain the property after completion of any works.
The normal exit strategy for a standard bridging loan can apply, such as sale or refinancing via longer-term traditional mortgages - in this case most likely it would be a buy to let (BTL) mortgage. Some lenders are able to offer both the initial bridge to let finance and also the switch to the BTL mortgage.
What's the difference between a bridge to let loan and a buy to let mortgage?
A buy to let mortgage is long-term finance offered by many high street mortgage lenders. They are typically suitable for investment property such as residential dwellings that do not require any development, renovation or heavy refurbishment works.
A bridge to let loan differs from buy to let mortgages as they are short-term finance and suitable for property that does require significant work to become habitable. The main benefit that many landlords have realised is that it is a rapid funding solution which is especially useful when purchasing property at auction.
Another key difference is that with a bridge to let loan there are no monthly interest payments unlike monthly mortgage payments, which frees up capital for construction and refurbishment work.
Can I get a bridge to let for a commercial property purchase?
Yes, whilst the majority of bridge to lets are for residential properties, this type of bridging loan is also available for commercial properties, although the loan rates are likely to be higher.
Are bridge to let loans regulated by the financial conduct authority (FCA)?
No, as bridge to let's are for investment properties and not a main place of residence for the borrower they are unregulated loans which means they are not regulated by the financial conduct authority.
How does bridge to let finance differ from a standard bridging finance?
In essence there's very little difference between bridge to let finance and standard bridging finance, aside from the fact when the loan period ends the exit strategy is that the the loan ends its term and the borrower wants to refinance, they'll do so onto a standard mortgage.
The usual fees are typically the same in both types of bridge loans including: arrangement fee (also known as a facility fee), broker fee, interest (calculated daily or monthly), legal costs, exit fees. The same need exists in both bridge loans for the borrower to have a clear exit strategy and neither will be regulated by the financial conduct authority.
