Buy to Let Bridging
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Buy to Let Bridging
Can I get a bridging loan on a Buy to Let? How does it work?
Yes, you can get a bridging loan on almost any property or land. Bridging to purchase a Buy to Let would be fine.
It works in the same way as any other bridging loan. You talk to your broker about what you’d like to buy, how much it’s going to cost and your plans for the property long-term. If you plan to renovate it, will you then sell it or keep it as an investment?
We’ll present you with a deal that we think fits your situation. If you’re happy with the advice, we would then apply for the bridging loan to get the ball rolling.
Why would you need a bridging loan to purchase a Buy to Let property?
There could be several reasons, but often the property is a ‘doer-upper’. Perhaps you plan to rent it out to tenants, but it’s not lettable in its current condition; it’s a bit run down or it’s not a standard construction and needs some repair work.
Most mortgage lenders need the property to be habitable and rentable from day one. If there are holes in the roof or walls, or there’s no kitchen or bathroom, it’s not going to be rentable.
It might need a little bit of TLC to get it into a condition where the lender’s comfortable.
Alternatively, you might be buying something at auction, where you often don’t have enough time to arrange a traditional Buy to Let mortgage. Some auctions can offer a generous 56-day turnaround, but often it’s shorter than that.
It can be challenging if the property has not been valued, or there are issues with the legal pack. You ideally should get these checked out before the auction. We’ve helped many clients who’ve purchased a property at auction but couldn’t get a mortgage on it, so we’ve stepped in with a bridge.
Another scenario is where you’re refurbishing a property and you’re not going to keep it.
You don’t want to be tied in on a mortgage deal because you plan to sell the property and make some profit from it.
We also see landlords with a portfolio of properties, who decide to invest in an HMO (house of multiple occupation). With more bedrooms, these can generate a greater rental yield.
You buy a three or four bed property and need to do some conversion work to it. You may possibly need planning permission and relevant licenses.
Again, you’re not necessarily going to be able to get a mortgage on this straight away, but bridging can be a good solution.
What is an exit strategy, and why is this important? Do I need an exit strategy to secure a Buy to Let?
Absolutely. You really do need an exit strategy – bridging finance is a tool for you to make the purchase, but you really don’t want to be on that long-term. Typically, a bridge would be 12 to 18 months. It’s possible to get longer, but it’s best to get off the bridge as soon as possible.
One exit strategy could be selling the property, if you’ve got no intention to keep it. You’re just looking to generate a quick profit. Or, you could refinance it onto what we call a ‘term deal’. This is a traditional Buy to Let mortgage.
If it’s a property that you’re converting to a HMO, once you’ve got the conversion done and the necessary licenses, and perhaps planning permission, you would refinance onto an HMO mortgage.
It is also possible to rebridge if at the end of the initial bridge things have gone a bit awry. Perhaps the refurb took a bit longer or you didn’t get planning permission… you can renegotiate with either the current bridging company or go to another one.
As a side point on that, if you’ve added extra value to the property, with an extra bedroom or a loft conversion, for example, it may be possible to raise some additional funds. You could pay the original bridge off and then have some extra cash to complete the project. It’s all about what the property is worth at the time.
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How much deposit do you need for a bridging loan on a Buy to Let?
It comes down to the proposition. You’re usually looking at 25% or possibly 30%. New deals are being launched on renovation finance where it’s possible to go higher on Loan to Value than that – for example, 80%, 85%, which means a 20% or 15% deposit.
A few weeks ago, one lender brought out a 90% Loan to Value option, where you’d only need to put 10% down. You need to have a chat with a broker to check the criteria and make sure that was the right product for you. [Information correct at the time of recording in August 2025].
How much can you borrow on a Buy to Let mortgage?
Bridge sizes are usually based on the value of the property, rather than the borrower’s personal income. Some bridging lenders check that clients do have income, but most are happy just with the property as security for the loan.
It’s most common to see a 75% Loan to Value on bridging finance, where the lender gives you 75% of the value of the property. You then need to find the 25% as a deposit for the purchase.
If you own other properties, it’s possible to use them for additional security and potentially borrow 100% in total. As an example, it might be 75% on the bridge and 25% on other properties.
You’re then not having to put any of your own money into the purchase – you’re using other properties in your portfolio to finance that.
It’s worth noting that if you plan to convert the property into an HMO, some lenders will let you use a commercial valuation. This is more for the exit strategy – they look at the annualised rent, using values and demand in that area to give a yield figure. This can possibly provide a higher valuation, allowing the borrower to raise more money, pay off the bridge and walk away with some cash in hand.
What are the fees for Buy to Let? Are there any other costs we need to know about?
The lender charges a fee for arranging the loan, which typically is 2% of the loan size. There may also be fees for drawing down the facility, depending on how you’ve arranged it. For example, if you’re going for a bridge with some development finance, you might pay as the money is released.
There’ll also be a valuation fee, and perhaps an administration or commitment fee. There will also be legal fees to cover. We also charge a fee, which is typically £595 for a bridging loan. That could vary depending on where the property is, what it is and how much work is involved.
We would explain all of this once we’ve got a clear understanding of what a client’s looking to achieve. We explain the task in hand and what fees would be payable.
Can you get a Buy to Let loan with bad credit?
Usually, yes, you can get a bridging loan for a Buy to Let property even if your credit score isn’t perfect. The lender is more interested in the property as security for the loan than your credit history.
Normally interest is rolled up, which means it’s added to the loan and paid at the end when you repay the balance. The lender’s therefore less interested in your ability to make regular payments compared with a traditional mortgage.
Having said that, some lenders aren’t keen to lend to clients with less than perfect credit scores. It depends on what the problem is – was it a £2.50 charge for a mobile phone or a £20,000 debt where you didn’t pay the loan on your Ferrari?
How does remortgaging work for Buy to Let bridging?
You don’t really remortgage, because a bridging loan isn’t a mortgage. As previously mentioned, you can refinance – either by going to a new bridging company or staying with the current lender and asking them to extend.
The main thing is to stay in touch with your broker during the term of the loan. We can start to look for new bridging deals or a different exit strategy for you as needed.
What are the pros and cons of using a bridging loan for Buy to Let?
The main advantage of a bridge is to purchase a property when you need speed. We mentioned the auction deadline – you might not get a traditional mortgage through in time because of the legal work. With a bridge, that shouldn’t be a problem.
Bridging loans are more flexible – generally you can pay a bridge back without any exit fees, while many traditional mortgages have an early repayment charge.
One downside is that bridging tends to be more expensive. You’re paying interest on a monthly basis, which then gets capitalised onto the debt.
Bridging is a tool. It allows you to buy a property that you wouldn’t necessarily get a mortgage on. If you can get off the bridge quickly, you’ll pay less interest than you would over 12 months or longer.
It’s not necessarily a cheap option, but it could be the right choice if you have time constraints or the property’s not mortgageable.
How do I apply for bridging to purchase a Buy to Let?
I would recommend going through your mortgage broker. Talk to us and we’ll handle the application for you. Some bridging providers only deal with mortgage intermediaries – and it may well be that a broker has special relationships and can get better rates than you can.
Let us have a look at what options are out there for you. We work with hundreds of landlords and clients arranging bridges. We’re well-versed in the process and we handle all the heavy lifting and admin. Our administrators make sure that your bridge goes through to completion smoothly.
What else do we need to know about Buy to Let bridging?
We act as a single point of contact throughout your loan application, and as brokers we can access exclusive deals. There’s a lot we can find that you won’t get on the high street.
We could save you money, or get you a bridging loan that’s a better fit for your situation. There are loans available for up to 90% of the property value. Again, these are only available through a broker – so talk to us and let us manage the whole process.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.
The Financial Conduct Authority does not regulate some forms of Buy to Lets and bridging finance. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount will be agreed with you before proceeding.
Brunel Bridging Ltd is registered in England and Wales. Registered Number 14455169. Registered Office: Elm Tree Farm Estate, The Sheepway, Portbury, Bristol, BS20 7TF. Brunel Bridging Ltd is a full member of the National Association of Commercial Finance Brokers (NACFB) (membership number 31826) and as such, adheres to a strict industry-recognised Code of Practice.
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What is a regulated bridging loan?
Broadly speaking, a regulated bridging loan is short term finance that’s secured against a property, where the borrower intends to use it for personal use.
It’s generally a loan in the region of 75% of the value of the property. It falls under the Financial Conduct Authority’s protection when the borrower and their immediate family will occupy at least 40% of the property.
Regulated bridging loans aren’t suitable for long-term financing. The interest rates over the term work out higher than a traditional mortgage. They are good for chain breaks, where you need funds to make an onward purchase or you want to raise funds for other purposes.
It’s important to remember that by securing the loan against your property, you’re obviously going to put your home at risk. If you’re unable to repay it, there will be consequences.
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What is the difference between regulated and unregulated bridging finance? How do I know which loan I need?
Bridging finance can either be regulated or unregulated, and in both cases, lenders require security – which is the property. Most commonly, where a property is owned by a borrower as their main residence, it’s considered a regulated bridge.
There always needs to be a clear strategy for repaying the loan. The main difference between regulated and unregulated is the use of the property. For example, if a homeowner wants to avoid breaking a property chain, they would secure the finance on their main residence. They use it to keep the chain going and continue with the purchase.
In contrast, an unregulated bridge is for business or investment purposes. This tends to be used more by investors needing funds quickly to purchase a property. It could be something at auction, or a property has come up where they need to act fast.
The property might not be rentable or saleable in its current condition. A bridge would give them the funds where a mortgage wouldn’t be possible.
The big difference is that an unregulated loan is for investment purposes – they’re not living in the property. A regulated loan is secured on a property they either live in or have lived in.
What can I use a regulated bridging loan for?
It could be that you need to raise funds to purchase a new main residence. It could be up for auction and in its current condition, it’s not mortgageable – the roof’s missing, there’s no kitchen or bathroom.
Perhaps you couldn’t move into that property on day one, or the lender’s valuer decides that they can’t offer a mortgage in the property’s current condition. If you’ve got your heart set on buying that property, you can raise a bridge against the property you’re currently living in.
It may also be possible to raise bridging funds on the property you’re looking to purchase. In some cases you can get 100% finance because you’ve used two assets.
You then raise the funds, complete the purchase and renovate the property so that it’s in a mortgageable condition. You could then sell the original residential property and repay the bridge. Or, once the property is habitable, it’s possible to raise a traditional residential mortgage and pay the bridge off that way.
Can a regulated bridging loan help with a property chain?
Bridges are often used with property chains. Someone at the very bottom of the chain could have seven or more properties ahead of them. A problem with their sale could then impact everybody else in the chain.
People higher up in the chain put pressure on those below and at some point someone needs to decide whether to break the chain. You could take bridging finance to complete the purchase as planned. Everybody above the chain can then move on.
Can I use a bridging loan for home improvements?
Yes – a bridge could fund home improvements while you’re waiting for a remortgage to come through. For example, you’re looking to remortgage and you want some additional funds – but you need that money faster than the remortgage is going to take.
Rather than going back to your current lender and borrowing extra, which may tie you in, you can take a bridge. You do the home improvements – a conservatory, a loft conversion or a new kitchen.
Because the bridge wouldn’t have any tie-ins or exit fees, once the remortgage comes through you can pay the bridge off that way. It’s a flexible way of gaining some funds without being tied in.
Are second charge bridging loans regulated?
A second charge bridging loan is where you’ve got a second charge on your property that allows you to raise funds.
A regulated bridging loan can be first or second charge. If you’ve got a mortgage on your property, that lender has the first charge. You then want to raise additional funds, which take the second charge. The first lender is paid off first if the property had to be repossessed. A second charge would allow the clients to raise additional funds.
It is possible. On your main residence, it would be a second charge regulated bridge.
What documents will I need to provide when applying for a regulated bridging loan? Is proof of income required?
In most cases income proof would be required. The bridging company wants to also make sure that you can get off the bridge, so they’ll require you to provide evidence of how you will repay it.
This could be in the form of a mortgage offer from another lender. It could be that you’ll be able to pay the bridge off with a lottery win, but I’m not sure how successful that would be.
But if you will refinance with another lender, they would want to see evidence of that. Generally they want to see that you’ve got the income to afford it. It’s like a mortgage – because it’s regulated and you’re living in the property, they want to make sure that you can get off that bridge.
It’s also underwritten in a very similar way to a mortgage. You will need proof of your ID, address and income. Lenders will assess your ability to repay the loan as part of the application, so income evidence is generally a requirement.
Can I get a regulated bridging loan if I’m self-employed?
Yes – and you would have to prove your income. Whether you’re employed or self employed, it takes on a similar format. That could be pay slips, bank statements, tax overviews or tax returns. If you have rent from other properties, lenders will take all of that into account.
Many bridging companies will accept self-employed applicants, and even those with a short trading history. Again, it all comes back to your income being sufficient to cover the finance and having a clearly defined exit strategy.
Can I get a regulated bridging loan with bad credit?
Anything’s possible, as a number of lenders have suitable products for people who have had credit glitches. The rates will obviously be higher and they may even restrict the Loan to Value.
Bad credit isn’t necessarily the be-all and end-all, but it would depend on the credit issue, how long ago it was and if there are any mitigating circumstances. In a nutshell, the answer’s yes, but the options are limited and the rate is likely to be higher.
Do I have to pay the bridging interest each month?
Lenders will charge interest on a monthly basis, and there are two ways in which the bridge could be set up. The client could service the interest each month, so that they would only owe the borrowing figure when they come to repay the loan.
However, most people don’t want to take on that additional outgoing, especially if they’re doing a renovation on their house. Instead they roll up the interest. You obviously borrow the capital amount and the interest is then added on to that. You don’t pay anything during that bridge period, which could be six or 12 months, and repay everything in one go at the end.
If you’re ready to repay the bridge early, your final loan balance would be smaller as you won’t have accrued as much interest.
What happens if the regulated loan is repaid early?
In most cases, you can pay it back early. We would always look at the client’s needs and aspirations, and whether there is anything on the horizon that would give them the opportunity to pay it back early.
Generally, we would go for a sensible length term on the bridge, such as 12 months, so you’re not putting yourself under stress. If then, for example, the property sells, or you win the lottery and want to pay it back, in most cases, you can do so.
If someone is likely to pay it back early, we would look for a deal with no early exit fees. A lot of bridging companies don’t charge these fees, but some do. It’s a trade-off between no exit fee and the rate that the lender would offer. We might possibly go for a lower rate of interest if there was only a one or a two month exit fee.
Some bridging companies might require the borrower to hold the bridge for a minimum of three months – because obviously they want to make their money. We would always check any time constraints with you.
Can I waive my rights and take an unregulated loan?
Generally not, no.
How long does a regulated bridging loan take to arrange? How long will my regulated bridging application take to complete?
Like a mortgage, you need to apply and the bridge is assessed. If the lender is happy, they would issue some initial terms. That’s an illustration of the rate, the fees and what the total amount payable will be. If the client is happy with that, we convert that to an application and then a valuation is done.
The process can take anything from two to four weeks. I spoke to a firm of solicitors the other day and four weeks for them was optimistic. If the legal team is busy, that’s the main factor – they’re the ones that control the timeframe.
We allow for around four weeks on average, but it can vary if there is anything complex. If it was a fairly straightforward bridge it’s right to allow four to six weeks. If it’s more complicated, it could be longer.
What else do we need to know about regulated bridging loans?
In some situations you may be able to reach almost 100% bridging. You might have multiple properties, where you could take a bridge on the property you currently live in and then, if the property you’re buying was suitable security, you could borrow against that too. That’s something we could help you manage.
We’ll speak to the bridging company, the valuer and the solicitor on your behalf. A gentleman I know purchased a property and was then splitting the title on it – to separate the house that they lived in and an annex. That added some complexity – and we can help advise and manage all of that.
We’ve also got strong relationships with a lot of the bridging providers. We can have some good, in-depth conversations with them and make sure that they are comfortable with the proposition. We can help them understand what the client’s looking to do.
It’s not as simple as just asking for a bridging loan – we need to paint a picture. We show the bridging company what the client’s looking to do, their income, their exit strategy and details of all the properties involved.
Quite often we can get better deals. As an example, perhaps you’ve got a property worth £100,000 and you took a bridge on that at 70% Loan to Value. You’ve then got a property to buy, which is worth £200,000 – so you’re borrowing £70,000 against two properties. That means it’s a lower Loan to Value which will get you a better rate of interest.
We’ll always look for angles and ways to get a better rate if we can and, as a strategic partner with some bridging companies, we can access better rates than you would get direct.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME FORMS OF BUY TO LETS AND BRIDGING FINANCE. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME/PROPERTY.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.
THERE MAY BE A FEE FOR MORTGAGE ADVICE. THE PRECISE AMOUNT WILL BE £495 PAYABLE AT APPLICATION STAGE FOR BRIDGING FINANCE AND WILL BE AGREED WITH YOU BEFORE PROCEEDING.
MORTGAGE STYLE LIMITED, TRADING AS MORTGAGE STYLE, IS AN APPOINTED REPRESENTATIVE OF H L PARTNERSHIP LIMITED, WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
MORTGAGE STYLE LIMITED IS REGISTERED IN ENGLAND AND WALES. REGISTERED NO: 05743648. REGISTERED OFFICE: MORTGAGE STYLE LTD, ELM TREE FARM ESTATE, THE SHEEPWAY PORTBURY, BRISTOL, BS20 7TF
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