What bridging lenders need
Bridging lenders mainly need good security and a credible exit plan, such as selling a property or refinancing onto a mortgage. Your income matters less than with a normal mortgage, but you'll still be assessed.
Worked example
A £350,000 property with £100,000 already secured on it, at a 75% limit, could raise about £162,500 more.
Before you borrow
Your home may be repossessed if you don't keep up repayments on a loan secured on it.
This is an estimate. Lenders make their own decision based on your full circumstances and credit history.
Inputs for the bridging loan eligibility calculator
Property value
The value of the property used as security.
Existing borrowing secured on it
Any mortgage or loans already secured on it.
Maximum loan-to-value
The lender's maximum, often around 70% to 75%.
CALCULATOR QUESTIONS
Bridging loan eligibility calculator questions
Who can get a bridging loan?
Borrowers with property to offer as security and a clear plan to repay, such as a sale or a remortgage.
Do I need a good credit score?
It helps, but bridging lenders focus mostly on the property and exit plan.
What's an exit plan?
How you'll repay the loan at the end, usually by selling or refinancing.
What's the risk?
Your home may be repossessed if you don't keep up repayments on a loan secured on it.