Affordable Bridging Loans for Residential Property
- Get a loan of up to £50,000,000
- Receive an Offer in Principle (OIP) when you apply
- Straightforward lending
- No hidden fees
- Get your loan in days
- Flexible loans up to 24 months tailored to your needs
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Quick Funding For Residential Properties
Whether you are looking to purchase a new property, refinance, or refurbish your home, a residential bridging loan allows you to get quick funding. Traditional finance can take a long time to clear, which means you could potentially lose out on your dream home. But the good news is that our team of brokers can help you secure specialist finance for a short period of time.
At AptPay, we believe that finance should be accessible to everyone, regardless of their credit history. Instead of performing automated credit checks, we work with you to find suitable short-term financing solutions. Over the years, we have built strong relationships with major UK lenders so that you can secure a deal that works for your circumstances. Speak to our expert brokers today for a no-obligation chat.
Our Range Of Residential Bridging Loans
Purchase
Max LTV: 75%
Rates: Variable
Charge type: 1st
Max term: 24 months
Interest type: Retained or serviced
Refinance
Max LTV: 75%
Rates: variable
Charge type: 1st and 2nd
Max term: 24 months
Interest type: Retained or serviced
Refurbishment
Max LTV: 75%
Rates: variable
Charge type: 1st and 2nd
Max term: 24 months
Interest type: Retained
Development Exit
Max LTV: 75%
Rates: variable
Charge type: 1st
Max term: 24 months
Interest type: Secured
Criteria
Purchase Loans
- You must provide proof of funds or evidence of deposit
- This loan is for investment properties only
- You must be at least 18 years of age to take out this loan
- There is a minimum term of 1-month
- Any serviced interest is subject to an affordability assessment
Refinance Loans
- If you require funds for a lease extension, completion needs to happen at the same time
- You must be at least 18 years old to take out a bridging loan
- The minimum term is 1-month
- If you would like to refinance an existing bridging loan, this will be considered by referral
Development Exit Loans
- Minor works that are outstanding can be considered
- You must provide a final certificate from build control and the warranty provider
- It is possible for sales proceeds to be distributed, depending on the LTV and approval from the credit committee
- You must be 18 or older
- There is a minimum term of 1-month
Refurbishment Loans
- Ideal for properties that do not require approval or planning permission
- You must be at least 18 to secure this loan
- The minimum term is 1-month
- This loan can not be secured on structural works
- It is possible to secure this loan on more extensive works if there is no reliance on Gross Development Value (GDV)
Applying For Residential Bridging
When you book an appointment with one of our bridging experts, we will talk you through your options and help you find the most suitable terms for your circumstances. If you are happy with the terms offered, we will guide you through the process of completing the application form for your chosen lender.
In some cases, a valuation may be required. We are on hand to answer any questions you may have whilst the lender assesses your supporting information. Generally, there is no need to worry as we will ensure that you provide all the necessary information in the first place.
Once the valuation and supporting documents have been approved, the lender will provide you with a formal offer and the legal process will begin. It is also worth noting that we can offer loans with no valuation. However, these will usually be at an LTV below 65%. In some cases, we may be able to offer an instant valuation. Simply speak to our highly-skilled brokers to learn more about the valuation process.
Why Choose Us?
When the property you have always wished for comes to market, it is important to act fast. Otherwise, you run the risk of potentially losing out on your ideal home or investment property. If traditional finance is taking too long to secure, that does not mean you have to give up on your dream. With our specialist brokers in your corner, you can get cash at short notice. With years of experience under our belt, we excel at finding residential bridging loans for homeowners and landlords. When you need us most, we will help you secure funding within days.
We take a flexible approach to short-term finance, tailoring all of our loans to suit your specific requirements. When you choose us, you can be sure that your finances are in the hands of dedicated experts and not a robot or a big bank. Reach out to our team to find out how we can help you secure flexible financing.
FAQ
What is residential bridging?
In simple terms, residential bridging finance is a type of short-term loan that is designed to bridge the gap between buying a property and securing a more permanent type of financing, such as a mortgage.
It is possible to offer this type of bridging loan on a 1st, 2nd and even 3rd charge basis.
How do they work exactly?
You can secure a loan on an interest-only basis for up to 24 months.
Generally, the monthly interest will either be deducted from or rolled up into the loan. In some cases, you can pay the monthly interest.
Why should I take out a residential bridging loan?
There are many benefits to taking out bridging finance for residential properties, including:
- Quickly raising cash for an investment property
- Extending the lease of your property before selling it
- Funding a renovation project
- Completing the purchase of a property at auction
- Buying a new property before you sell your current home
What rate will I pay?
This will depend on the LVT, as well as the lender you choose. Speak to our knowledgeable brokers to find the best possible rate.
Are there any additional fees?
You may have to pay other fees on top of the interest charged, such as:
- Lender arrangement fees – These are paid to the lender for arranging the loan
- Broker fees – These are charged to the broker for setting up the loan
- Valuation fee – These are paid to the lender during the valuation stage
- Legal fees – You will need to pay both your own and the lender’s legal fees for any legal admin involved in the process