Bridging Loan Lending Criteria

There are more than 150 bridging loan providers in the UK, and lending criteria will vary with each different provider. Each lender will have their own set of criteria that applicants must meet to qualify for the bridging loan. Our extensive, leading panel of lenders allows Crystal Bridging Loans to provide the following lending criteria:

Lending Criteria – Loan Sizes, Terms, Loan Use

Loan Sizes

Our lenders offer bridging loans from £10,000 with no maximum value that you can borrow.

Term

We provide bridging loans available with terms from 1 day up to 36 months. Bridging loans are designed to be repaid in full over a short period of time, so most lend up to a maximum of 18 months, with some offering up to 36 months.

Loan Use

Bridging loans can be used for almost any legal purpose, including:

  • Buying a property before the current one is sold to maintain a place in a chain
  • Purchasing property at auction
  • Buying property in poor condition
  • Paying urgent debts and meeting unexpected expenses
  • Clearing bankruptcies
  • Funding renovation, refurbishment, and restoration projects
  • Business cash injection and raising working capital for your business
  • Building a property
  • Purchasing land
  • Bridging a gap whilst waiting for other funds

How Do I Qualify For A Bridging Loan?

Get In Touch

CALL US TODAY on 0203 940 8544 TO GET ADVICE AND A FREE TAILORED QUOTE.

Lending Criteria - Availability, Location, Age

Availability
Our lenders offer bridging loans to both individuals and businesses alike. We have bridging loans available for everyone from private borrowers and sole traders to partnerships, limited companies, and offshore companies.
Location
We can arrange bridging loans nationwide for applicants based anywhere in the UK. This includes borrowers located in London, England, Scotland, Wales, and Northern Ireland. We can also arrange non-regulated bridging loans for foreign nations and Ex-Pats.
Age of Applicant

Applicants must be a minimum age of 18 years old to apply for a bridging loan. Some lenders also impose upper age limits. The applicant needs to be completely aware of what they are doing, unless there is a power of attorney in place.

Lending Criteria - Security & Property

Security

Most providers require property as security. This could be one property or several properties. The lender will secure the loan by taking a charge over the property as first, second, or third charge. The lender will take ownership of the property if the loan is not repaid as agreed.

Property Types

All property types can be used to secure a loan. This includes houses, flats, bungalows, mixed-use, shops, offices, industrial units, care homes, holiday homes, hotels, B&Bs, restaurants, bars, pubs, farmland, development land, parking spaces, and garages.

Property Condition

Bridging lenders are willing to accept properties in all conditions, including those in poor condition, in a state of disrepair, in need of restoration, or need to be demolished. Bridging loans are commonly used to raise funds for property renovations.

Other Security

Some lenders may offer loans secured against other assets such as jewellery, watches, cars and vehicles, precious gems, gold, artwork, and antiques.

Get A Quote

CONTACT US TODAY TO GET ADVICE AND A FREE TAILORED QUOTE.

Lending Criteria - Credit History, Interest Payments, Exit Route

Credit History

Many lenders are not bothered about credit history. We have facilities available for those with CCJs, Defaults, Arrears, IVAs, bankruptcy, repossessions, statutory demands, winding up orders, and when conventional credit is unavailable.

Income Evidence

Many lenders don’t require proof of income.

Interest Payments

There are 3 ways to pay back interest on your loan. Monthly interest is paid monthly and it’s not added to your bridging finance balance. Rolled up interest is paid in full at the end of your loan when payment is due. Retained interest is borrowed for an agreed period and pay it all back at the end of the loan.

Exit Route

The exit route sets out how the bridging loan is to be repaid to the lender. There are many ways to do this, including selling the property or asset, refinancing, money due to be received, policy reaching maturity, or inheritance.

How can we help?

CONTACT US TODAY TO GET ADVICE OR FOR A FREE QUOTE FROM OUR EXPERT BRIDGING ADVISORS.

Any Questions? Get in touch