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Finding Regional UK Bridging Loans

Finding Regional UK Bridging Loans

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Lenders vary across the UK. While it might be easier to find a local bridging loan provider in central London than in Scotland, there are always options, wherever you are based, and even if you need bridging finance for an overseas project.

Here we'll summarise how the bridge loan sector varies in regions of the UK.

For help with local financing in any area, contact Revolution Brokers on 0330 304 3040, or email the team at info@revolutionbrokers.co.uk.

Are There Rules for Bridge Finance in Different UK Regions?

Rules aren't necessarily different, but you are likely to need help from an experienced broker to find the best bridging loan rates in some areas.

  • London offers a broader range of bridge loan lenders to select between, and if you need specialist lending, your best bet will usually be a bridge loan provider in the capital.
  • You'll need a specialist lender and a provider who caters to bridge loan projects in the area in Scotland. There are restrictions to be aware of, such as eligibility requirements in Glasgow, and development rules in the Highlands.
  • Northern Ireland bridging loan lenders are similarly few, but you will always find a lender with the help of a whole-of-market broker. In some cases, lenders operate within particular postcode restrictions; it's essential to apply to the right lender.

Is There a Cap on England Bridge Loan Values?

There is no cap on bridging loans, but most lenders will offer up to 70% or 75% of the purchase value. If your development is higher risk, you will need a more substantial deposit up to 50% of the cost.

You can get 100% Loan to Value bridging loans in England, although will usually need to provide additional security to mitigate the lender's risk.

How Can I Find the Lowest Rate Bridging Loans in the UK?

To get the lowest interest rates, you need to demonstrate that your application is low risk. This applies throughout the UK, and to all bridging lenders in all the major cities as well as those in more rural areas.

Applicants who meet the below criteria present the most compelling lending propositions:

  • Good exit strategy - if you can prove that you have a plan in place to pay back the loan, and this is viable and quantifiable, you're in a good position. For example, if you plan to sell your development and have an anticipated valuation, or will remortgage and already have an agreement in principle.
  • Clean history score - bad credit is always a risk factor, so if you have a good credit rating and no history of adverse credit, your application will be looked at favourably.
  • Development experience - if you have completed projects of a similar nature before, and made a profit, a lender will be more confident that you will repay the loan and turn the development around within your expected timescales.

Can I Get a Bridging Loan for an Overseas Property Purchase?

You can, but there are fewer UK bridging loan lenders who will consider financing an international investment.

The most common scenario is where you use a UK asset or property as security to take out the loan, and then use the cash raised to purchase your overseas investment.

In terms of the exit strategy, you could remortgage the overseas property through an international mortgage provider, sell your UK asset to raise the capital, or use another form of repayment if the lender accepts that exit strategy.

How Can I Find an International Bridge Loan Provider?

If you're looking for fast financing for international investment, whether in Europe or further afield, give the Revolution Brokers team a call.

We work with a vast network of bridging loan providers, including those who specialise in non-standard loans.

Are Bridging Loans Available for Buy to Lets Across the UK?

Indeed they are. You can get a bridging loan for a buy to let property even in more remote areas in Scotland and Northern Ireland.

The upper limit on LTV is likely to be around 75%, so you will need a 25% deposit and can expect to be asked for evidence of your exit strategy, such as a remortgage agreement in principle.

Can I Get a Commercial Bridging Loan Outside of England?

Yes, you can find commercial bridge loan lenders in all UK regions.

Commercial bridging loans are similar for limited companies and Special Purpose Vehicles, with the latter being the trading style most common to bridge loan lenders.

You might be asked to provide personal guarantees from the company directors to secure the lending.

Some lenders will also offer a bridge loan as a second charge.

Expert Help with UK Regional Bridging Loans

As a whole-of-market, independent broker, Revolution negotiates bridge loans for large and small clients across the UK. Give us a call on 0330 304 3040, or drop a message to info@revolutionbrokers.co.uk to get started with your application!

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FCA disclaimer

*Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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