What a bridging broker does
Bridging lenders vary more than most borrowers expect. They differ on the property types and locations they accept, how much they lend against the value, whether interest is retained, rolled up or serviced, how valuations are instructed, their view of adverse credit, and how quickly they can complete. A lender that suits one deal can decline the next.
A broker's job is to know those differences, match your deal to the lenders likely to say yes on good terms, and present it in the way they need. That covers the property, the exit, your experience and anything unusual, so the lender can issue terms without repeated questions. Once you have chosen a lender, the broker keeps the valuation, underwriting and legal work moving through to completion.
How we compare lenders
We start with our panel of specialist bridging lenders. On our panel, 56 lenders offer bridging finance, and Instant Quotes shows which of them fit your answers, with indicative rates, fees and the interest you could expect, without a credit search.
The panel is the starting point, not the limit. Where a deal needs something the panel does not cover, such as an unusual property, a very large loan or a complex structure, we search the wider market of bridging lenders, private banks and specialist funders. Our lender reviews summarise what each lender on the panel offers.
We compare the net advance, the total cost over your expected term, any minimum interest period, exit fees and extension terms alongside the rate, because those details decide what the loan really costs. Our guide to choosing a bridging lender covers the same points.
How broker fees work
Using Instant Quotes is free, and nothing is payable upfront to see which lenders fit your deal. If you take a case forward, how we are paid depends on the lender and the case. Lenders usually pay us a commission, and in some cases a broker fee also applies. Any fee, and when it would be payable, is explained to you before anything is agreed, and nothing is charged without your agreement in writing.
Lenders charge their own costs too, such as arrangement fees, valuation fees and legal costs, and on larger or more complex cases the lender may also charge for its own surveyors. We set these out alongside the rate so you can compare the total cost rather than the headline figure. You can ask us in writing about any commission a lender pays us.
Regulated and unregulated bridging
Most bridging loans are not regulated, because they are taken for investment, business or development purposes. If the borrower is an individual or the trustees of a trust, and the property is, or will be, lived in by you or a close family member, the bridge is a regulated mortgage contract with additional protections. That applies to chain breaks and downsizing where you are buying your own home, for example.
We will tell you at the outset if that applies and how your case will be handled. Read more about regulated bridging loans. Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
