Bridging
Standard Bridging Key criteria
Product features.
- No exit fee.
- No early repayment charges (a minimum of 1 month’s interest must be paid).
- Retained interest for the full term of the loan is available for regulated and non-regulated bridging (monthly payment options available for non-regulated bridging).
- All regulated mortgage contracts must be submitted on an advised basis only.
- The lower of the LTV/OMV will be used.
- A £145 assessment fee applies to all products that can be deducted from the advance on completion.
- Non-regulated applications from limited companies are acceptable.
Loan amounts and LTV/OMV limits.
Min loan size
£50,000
Max loan sizes
No maximum
Max LTV/OMV
Loans above £2.5 million 65%
Loans up to £2.5 million 75%
Standard bridging 75%
Maximum 90% LTPP or 75% LTV of OMV
(subject to LTV limits not being exceeded)
Term.
Min
1 month
Max
12 months for regulated bridging
18 month for non-regulated bridging
Applicant.
Min age
21 years
Max age
85 years at end of term
Personal ownership applications
Max number of applicants: 4
Limited company applications
Max number of guarantors: 4
PRODUCT ELIGIBILITY.
Standard
No refurbishment
Light Refurbishment Key criteria
Product features.
- No exit fee.
- No early repayment charges (a minimum of 1 month’s interest must be paid).
- Retained interest for the full term of the loan is available for regulated and non-regulated bridging (monthly payment options available for non-regulated bridging).
- All regulated mortgage contracts must be submitted on an advised basis only.
- The lower of the LTV/OMV will be used.
- A £145 assessment fee applies to all products that can be deducted from the advance on completion.
- Non-regulated applications from limited companies are acceptable.
Loan amounts and LTV/OMV limits.
Min loan size
£50,000
Max loan sizes
No maximum
Max LTV/OMV
Loans above £2.5 million 65%
Loans up to £2.5 million 75%
Light refurbishment 75%
Maximum 90% LTPP or 75% LTV of OMV
(subject to LTV limits not being exceeded)
Term.
Min
1 month
Max
12 months for regulated bridging
18 month for non-regulated bridging
Applicant.
Min age
21 years
Max age
85 years at end of term
Personal ownership applications
Max number of applicants: 4
Limited company applications
Max number of guarantors: 4
PRODUCT ELIGIBILITY.
Light refurbishment
A light refurbishment bridging advance secured on property, that can be residential or conversion of a commercial/semi-commercial property in nature. The valuation of this property will be based on the current market value of the property.
Heavy Refurbishment Key criteria
Product features.
- No exit fee.
- No early repayment charges (a minimum of 1 month’s interest must be paid).
- Retained interest for the full term of the loan is available for regulated and non-regulated bridging (monthly payment options available for non-regulated bridging).
- All regulated mortgage contracts must be submitted on an advised basis only.
- The lower of the LTV/OMV will be used.
- A £145 assessment fee applies to all products that can be deducted from the advance on completion.
- Non-regulated applications from limited companies are acceptable.
Loan amounts and LTV/OMV limits.
Min loan size
£50,000
Max loan sizes
No maximum
Max LTV/OMV
Loans above £2.5 million 65%
Loans up to £2.5 million 70%
Heavy refurbishment 70%
Maximum 90% LTPP or 75% LTV of OMV
(subject to LTV limits not being exceeded)
Term.
Min
1 month
Max
12 months for regulated bridging
18 month for non-regulated bridging
Applicant.
Min age
21 years
Max age
85 years at end of term
Personal ownership applications
Max number of applicants: 4
Limited company applications
Max number of guarantors: 4
PRODUCT ELIGIBILITY.
Heavy refurbishment
A heavy refurbishment bridging advance secured on property, that can be residential or conversion of a commercial/semi-commercial property in nature. The valuation of this property will be based on the current market value of the property.
Developer Exit Key criteria
Eligibility.
1-6 units
- Up to 75% LTV
- Max 65% LTV where units average £750,000 or above
7 or more units
- Up to 65% LTV
General eligibility
Regulated and non-regulated accepted. Regulated applications must be on a retained interest basis. Interest can be retained or serviced for non-regulated cases.
Available for residential developments that have reached practical completion with the benefit of all consents and a warranty or PCC.
Applicant.
Min age
21 years
Max age
85 years at end of term
Personal ownership applications
Max number of applicants: 4
Limited company applications
Max number of guarantors: 4
Experience
Experienced developers only
Loan amounts and LTV.
Minimum loan size
£50,000
Maximum loan size
No maximum
Max LTV
Average unit size up to £750k 75%
Average unit size above £750k 65%
