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Bridging FAQs

What is a bridging loan?
A bridging loan is a short-term loan designed to provide fast access to funds when traditional lending isn’t suitable or fast enough. It fills the gap between buying and selling a property, refinancing, or covering urgent costs until longer-term finance is arranged.
You can borrow from £50,000 up to £1 million, depending on the value of the property or land being used as security.

Decisions are usually made the same day – often in a matter of hours. Once approved, funds can usually be transferred within 48 hours, making it an ideal option when speed is critical.

They are commonly used for:
⦁ Auction purchases (where completion deadlines are tight)
⦁ Property chains (buying a new home before selling your old one)
⦁ Short-term funding for business or investment opportunities
⦁ Refurbishments or renovations where traditional mortgages may not apply

There are two forms of bridging finance available:
⦁ Closed bridging loans – has a fixed repayment date, often used when contracts are already exchanged.
⦁ Open bridging loans – can be more flexible, repayment usually expected within 12 months.

Bridging loans are a lot more flexible than traditional finance routes. We look at the value of your property and your repayment strategy rather than focusing solely on credit.
Interest is usually charged monthly, often between 0.4% – 1.5%, depending on loan amount required, term, and circumstances. Fees such as arrangement or legal costs may apply, but everything will be outlined upfront in your quotation.
Bridging loans are secured against property or land. This could be your current home, an investment property, or commercial premises. The amount you can borrow is linked to the value of the security placed on the loan.
You’ll have access to a dedicated support team with years of experience in bridging finance. They’ll guide you through the process, answer questions, and ensure everything runs smooth.

The main risks are:
⦁ Higher interest rates compared to traditional mortgages
⦁ Short repayment terms (usually 1–12 months)
⦁ Risk of repossession if you cannot meet repayment
That’s why having a clear exit strategy – such as a property sale, refinance, or other repayment plan – is paramount.

Yes. Many borrowers choose to repay their loan early once their property is sold or refinancing is complete. Some lenders may charge an early repayment fee, but we’ll always explain the terms upfront.
No. Unlike traditional banks, bridging lenders place more importance on your exit strategy and the value of the property used as security. A less-than-perfect credit history won’t necessarily stop you from being accepted.

Our process is fast, just as our name says – Fast Property Finance:
⦁ Speak to our team for an assessment.
⦁ Receive a decision – often same day.
⦁ Complete necessary paperwork and valuations.
⦁ Funds are released, usually within 48 hours of acceptance.

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For larger loans or more complex finance, visit Envelop Finance

Fast Property Finance is a trading style of Brompton Asset Finance Ltd which is authorised and regulated by the Financial Conduct Authority FRN727308. Registered office address: Thistledown Barn Holcot Lane, Sywell, Northampton, England, NN6 0BG.

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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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