The three things every lender checks
- Security: property in the UK with enough value to support the loan, usually up to about 70% to 75% of value on a first charge, lower for land and second charges; see how much you can borrow
- Exit: a realistic way to repay, such as a sale, a refinance onto a mortgage or the sale of another asset; see bridging exit strategies
- Borrower: identity, the source of your deposit, your credit history, and your experience where the plan involves works or development
Because the loan is short and secured, many lenders are more flexible on the borrower than a mortgage lender would be, as long as the property and the exit are strong.
Pensioners and older borrowers
Age on its own does not rule you out. Some products on our panel set no maximum age, while others set one, commonly around 80 or 85, and a few measure it at the end of the term. Older borrowers often use bridging to buy a smaller home before selling the family home; see downsizing bridging loans.
Where the property is your home, or will be, the loan is regulated and the lender must assess affordability and the credibility of the repayment plan. With interest retained or rolled up, the focus is usually on the sale or refinance rather than monthly income, but expect to evidence how the loan will be repaid. It is sensible to involve family and an independent solicitor in the decision.
Little or no income
Non-regulated bridging is commonly assessed without income multiples. If interest is retained or rolled up, there are no monthly payments to meet, so lenders concentrate on the security and the exit. You will still need to show where your deposit and costs come from.
Income matters more in three situations: when you want to service interest monthly, when the loan is regulated, and when the exit is a refinance onto a mortgage that will itself test affordability or rental cover. A bridge is only as good as the exit, so check the refinance criteria before relying on it.
First-time investors and developers
Many lenders will lend to someone buying their first investment property, particularly for a straightforward purchase or light refurbishment at a moderate loan to value. Heavier works and ground-up schemes are a bigger step, and lenders usually want to see relevant experience in your team, such as a contractor or project manager with a track record. See light vs heavy refurbishment and first-time developer finance.
Foreign nationals and UK expats
A number of lenders on our panel consider foreign nationals and expats, some on the same terms as UK residents. Expect enhanced identity and source of funds checks, and allow extra time for documents to be certified. A UK solicitor familiar with overseas clients helps. Our guide to overseas and expat bridging covers the detail, and the overseas borrower bridging page lists lenders we compare.
Adverse credit
Missed payments, defaults, CCJs and even past bankruptcy do not automatically prevent a bridging loan. Lenders look at how recent and how serious the issues are, whether they are settled and whether they affect the exit. A refinance exit is harder if the mortgage lender at the end will not accept the credit history. See bridging with bad credit and bad credit bridging loans.
Companies, SPVs and trusts
Limited companies and SPVs are common bridging borrowers, including newly formed ones with no accounts. Lenders assess the directors and shareholders, and usually ask for personal guarantees. Partnerships, LLPs and some trusts are also accepted by certain lenders. See limited company and SPV bridging.
Instant Quotes asks about you and the deal, then shows lenders whose published criteria fit. Compare lenders and apply online.
Common questions
Can pensioners get a bridging loan?
Yes. Some lenders set no maximum age and others set one, often around 80 or 85. Where the property is your home the loan is regulated and the lender will assess how it will be repaid.
Can I get a bridging loan with no income?
Often, for non-regulated bridging with interest retained or rolled up, because lenders focus on the property and the exit. You still need to evidence your deposit and a realistic repayment route.
Can a first-time investor get a bridging loan?
Yes, many lenders accept first-time investors on straightforward purchases and light works. Heavier projects usually need experience in the wider team.
What is the minimum age for a bridging loan?
Usually 18, with some lenders setting 21.
Do I need to be a UK resident?
No. Some lenders consider expats and foreign nationals, with additional identity and source of funds checks.
This guide is for general information only and should not be treated as legal, tax or financial advice. Lender requirements depend on the property and your circumstances.
