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POST /f/bridging-loan/1

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    <p class="mt-2 text-gray-500 italic text-base">We will send you updates by SMS</p>
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Text Content

Bridging Finance Made Easy



Bridging loan specialists


WE LIKE TO SAY YES! GET YOUR PERSONALISED QUOTE


COMPARE THE BEST BRIDGING LOAN LENDERS INSTANTLY

Get your personalised quote. Find out how much you could borrow in 2 minutes
with NO credit check:

Loan amount (required)
Get started


JOSHUA ELASH

Director, MT Finance

We've worked with Chestnut for over 5 years and are impressed with their speed
to move applications to offers in record time.

   
 * Use our Bridging Loan calculator to see how much you could borrow with no
   credit checks.
   
 * We can help with auction finance, development finance, short term mortgages,
   property chains, inheritances, refurbs, refinancing and anything else.
   
 * Compare and get free quotes from top bridging loan lenders with no
   obligation.
   
 * 
   
 * Apply in 2 minutes and get any size loan from £50k to £50m with no up-front
   fees.




FIND OUT HOW MUCH YOU COULD BORROW WITH A BRIDGING LOAN

We're the UK's No 1 online bridging broker. Get any size bridging loan from £50k
to £50m in a little as 4 hours

GET A BRIDGING LOAN TODAY

Watch the video to find out how to get a bridging loan ↓



Chestnut has access to the lowest bridging loan rates in the UK.

All you need to do is fill in the 20 second form and we'll search over 120
lenders for you.

Completely free quotes and no obligation to proceed.

 * No Up-front Fees. Only a £995 administration fee when you a ready to proceed
   with the loan

 * Adverse Credit, CCJs and Arrears

 * No Exit fees, No ERCs

 * No Personal Guarantees

 * No Credit Checks

 * Terms issued in as little as 4 hours

We have worked with Chestnut for over 5 years and we continue to be impressed
with the quality of their deal presentation to move applications to offers in
record time.

Joshua, Director MT Finance

Get your bridging loan offer

 * ✓ Pay no up-front fees only a £995 administration fee when you are ready to
   proceed with the loan
 * ✓ Over 1,000 Borrowers Helped
 * ✓ No Obligation Offer & No Credit Checks
 * ✓ Terms issued in as little as 4 hours

Loan amount (required)
First name (required)
Last name (required)
Mobile number (required)

We will send you updates by SMS

Email (required)
SUBMIT

UK's No 1 Online Bridging Loan Broker

By submitting your details you agree to our Privacy Policy.

Award Winning Bridging Loan Broker




BORROWER SUCCESS STORIES

With over 30 years experience we've helped projects from small to large all
across the country. We can help you whatever your circumstances.

Hampstead, London

£1m - Completion in 12 Days



 * • Asset: House
 * • LTV: 61.5%
 * • Exit: Remortgage
 * • Term: 12 months
 * • Purpose: Downsizing



Croydon, London

£350k - Completion in 5 Days



 * • Asset: Flat
 * • LTV: 65%
 * • Exit: Sale
 * • Term: 18 months
 * • Purpose: Refurbishment



Manchester

£575k - Completion in 10 Days



 * • Asset: House
 * • LTV: 60%
 * • Exit: Remortgage
 * • Term: 9 months
 * • Purpose: Chain



See how much you could borrow


TRUSTED BY UK AND OVERSEAS PROPERTY OWNERS

Don't take our word for it, see what our customers say about us

WILLIAM BORROWED £1.2M

My last nine property loans have been arranged by Chestnut as a property
developer and investor, they completely understand my business model and tailor
market leading product selection accordingly, I am very pleased with their
service.

William Johnson, Cheltenham

STEWART BORROWED £485K

We have used Chestnut on two occasions now, we were very impressed with the
efficiency and quality of service they provided and will use them again in the
future. The advice they gave and the relationship they have with the lenders
made for an easy transaction.

Stewart Bel, Gloucestershire

JAMIE BORROWED £672K

Easy to talk to you, quick to respond and always finding ways to unlock extra
avenues of capital for our fast-growing property development business. Chestnut
use a paperless process where they can which saved us a lot of time and
administration.

Jamie Stafford, Hampstead

Get bridging loan offers


HOW CHESTNUT WORKS

Just follow these 3 simple steps

1

Find out how much you can borrow

Just fill in the form with your details and we'll find out how much you can
borrow.

2

Talk to a bridging loan advisor

We'll match you with an advisor who'll give you tailored advice, help you
kick-start your application and answer any questions you've got.

3

Let us do the hard work

No need for meetings, appointments, long phone calls or paperwork. We'll handle
your application and update you every step of the way.

Find out how much you can borrow


WHAT CAN YOU USE A BRIDGING LOAN FOR?

Most commonly used by landlords, homeowners, and property developers to:

Refinance an existing bridging loan

Exit a completed development project

Grow your property portfolio

Raise capital for your business or to pay a bill

Moving home in a chain


BRIDGING LOANS PRODUCTS TO MEET YOUR NEEDS

Whatever your bridging loan needs we can help you secure the right funding for
your requirements.


AUCTION FINANCE

Auction Finance

 * Borrow up to 75% Loan to Value

 * Pay no interest for the first 12 months with interest roll up

 * Suitable for all property types irrespective of condition

 * Term up to 24 months

Get auction finance


HOUSE PURCHASE

House Purchase

 * Fund 100% of purchase price

 * No Exit Fees or Early Repayment Charges

 * Stamp duty funded

 * Flexible repayment options

Get house purchase finance


REFURBISHMENT FINANCE

Refurbishment

 * Borrow up to 85% of property cost + refurbishment cost

 * Pay no interest for the first 12 months with interest roll up

 * Day 1 Loan up to 75%

 * Term up to 36 months

Get refurbishment finance


UK'S NO 1 ONLINE BRIDGING LOAN BROKER

We’re here to help

Our dedicated team is here to help you every step of the way and do all the work
to get a bridging loan offer meet your needs.

Get a bridging loan today


FREQUENTLY ASKED QUESTIONS

Am I eligible for a bridging loan?

There are a number of considerations loan providers make when considering
eligibility for a bridging loan:

 * Bridging loan providers may only offer bridging loans to customers who have a
   a clear exit strategy to repay the loan.
 * Bridging loan providers will require property as security.
 * You may have to show proof of income, where you choose to service interest
   monthly.
 * You may need a business plan or prove experience in a business field if
   there’s a commercial aspect to your plans.
 * If you’re planning to develop property, you will need to provide your track
   record detailing your experience in property.



How do the interest payments work on bridging loans?

As the loan period of bridging loans tend to last a few months, you can pay your
interest in several ways:

 * On a monthly basis: You pay the interest separately and the sum isn’t added
   to the loan balance
 * In a rolled-up deal: Where you’ll pay the compound interest in full along
   with the loan when repayment is due
 * Retained interest: Where your monthly interest payments are covered until an
   agreed upon date so you can then pay back the full sum when the money is due



How long does it take to be approved for a bridging loan?

You’ll usually receive a decision within 24 hours of submitting your full
application. After which you’ll have to seek a valuation and subject to the
legal conveyancing process, the loan is drawn down into your bank account.

Representative example for regulated bridging loans

Based on borrowing

£350,000 over 1 year

Overall cost of comparison 10.1% APRC representative
Interest rate 7.85% fixed for 1 year
Total amount payable £377,945.96 inc. interest of £27,945.96


WHY WORK WITH CHESTNUT?

1


WE DO NOT SELL DATA

We do not sell your personal information, lender rates and lenders are for your
information and you are not obliged to apply through our Chestnut loan experts.

2


WE HAVE WORKED WITH THE LENDERS WE RECOMMEND

Our bridging loan experts check the lenders we list and have long standing
relationships to obtain fast decisions. We believe in relationships to get
things done.

3


WE’RE A TEAM OF BRIDGING EXPERTS

Our expert team deliver bridging loans every day and know the process inside
out. Our expertise is centered around getting the loan you need and quickly.


BRIDGING LOANS GUIDE

A lot of people are still unsure about what bridging loans are and what they're
used for. This guide will clear up any confusion and provide you with all of the
most important information about bridging loans and how they're used in
property. Keep reading to find out more.

WHAT IS A BRIDGING LOAN?

Generally speaking, a bridging loan is a type of short-term loan. It's a loan
that's meant to cover a borrower for a short period of time as they move from
one point to the next. That's why it's known as a bridging loan; it takes the
borrower from one step to the next one.

At the end of the term, the borrower should then be in a position to pay off the
loan in full or secure another form of financing that's more permanent or
long-term.

WHAT ARE TYPICAL BRIDGING LOAN RATES?

Borrowers tend to pay a higher price for bridging loans when compared to other
kinds of bridging loans. That's because this is a form of short-term financing
and, as a result the interest rates set by lenders are on the higher side.

It's typical for a bridging loan to have a monthly interest rate of 1% attached
to it. On top of that, there are other fees and things that should be taken into
account, and they'll be outlined in more detail in the text below.

WHAT IS A BRIDGING LOAN BROKER?

Bridging loan brokers act as the middlemen between the borrower and the lender.
The broker can help you save money by fighting your corner and seeking out the
best deals on the market. They also have an understanding of bridging loans that
can be very helpful to applicants.

Many potential borrowers who are looking for bridging loans need it quickly.
That's the nature of this kind of financing. Brokers speed up the process and
ensure applicants move through the process correctly and efficiently so none of
their precious time is wasted. If you use a broker, you'll need to pay a broker
fee for their services.

TYPES OF BRIDGING FINANCE

There are two main types of bridging finance. The first is a closed bridging
loan, which is where the loan is taken out and there's a pre-planned exit to
repay the loan. That means the borrower must know that they have a source of
funding coming down the pipeline that they can use to pay off the loan.

The other kind of bridging finance is an open bridging loan. These are the same
as closed bridging loans, except there's no specific plan in place to exit the
loan or pay it off in full. It makes the loan riskier for the lender.

WHAT DOES A PROPERTY BRIDGING LOAN COST IN TERMS OF FEES AND INTEREST?

There's an arrangement fee attached to bridging loans and this is usually set at
1%. The arrangement fee is an administrative charge that covers the process of
arranging credit. On top of that, there's interest of roughly 1% per month for
the borrower to pay.

There's usually an exit fee, which is owed when the loan is paid off early. This
is also set at around 1%. All of these fees and interest need to be taken into
account when applying for a bridging loan.

A valuation fee may be charged to determine the value of the property being used
as security as part of the bridging loan agreement. Finally, hiring solicitors
may be necessary and these legal costs should be taken into account too.

WHAT CRITERIA MUST I MEET WHEN APPLYING FOR A BRIDGING LOAN?

It's also important to know which criteria you'll have to meet in order to have
your bridging loan application accepted. Security in the form of property is
usually required by the lender.

The condition of the property will be assessed by a lender-appointed panel
valuer. And the applicant must be over 18 and their credit history will be
checked. As well as that, income evidence will need to be provided by the
applicant.

WHAT IS A SECOND CHARGE BRIDGING LOAN?

Second charge bridging loans are short-term loans that are usually secured
against a property, and that property will already have a mortgage attached to
it. People often use them for loft conversions, home extensions and things of
that kind.

When the work has been completed, the loan can be switched to another loan with
a lower interest rate, and the loan can then be paid off in the normal way.
They're useful for homeowners who want to carry out those kinds of costly home
improvements.

Second charge bridging loans are often used by businesses to raise funds and
they can also be used for debt consolidation purposes.

WHAT'S THE DIFFERENCE BETWEEN REGULATED AND UNREGULATED BRIDGING FINANCE?

Regulated loans are first and second charge loans and they're covered by the FCA
(Financial Conduct Authority). That means applicants can make complaints to the
Financial Ombudsman Service if you feel there's been a serious issue of some
kind with your bridging loan.

Unregulated bridging loans are loans that are secured with property that the
borrower doesn't live in and that their family doesn't live in either. The lack
of regulations makes these more risky, however. It's something to consider
before applying for one.

WHAT'S THE DIFFERENCE BETWEEN AN OPEN AND CLOSED PROPERTY BRIDGING LOAN?

As mentioned above, the key difference between open and closed property bridging
loans is the exit strategy and plan to repay the loan. These things are not in
place when an open bridging loan is agreed, but they are in place when a closed
bridging loan is agreed.

Closed bridging loans, therefore, tend to have lower interest rates because
there is more security for the lender. The entire arrangement is much more risky
for the lender if they don't know for sure when or how the loan is going to be
paid back by the borrower.

HOW DOES THE LEGAL CONVEYANCING PROCESS WORK AND WHAT ARE THE COSTS?

The legal conveyancing process involves transferring the legal title of a
property from one owner to another. It's a legal requirement and there are
various stages to the process.

In terms of costs, they vary from solicitor to solicitor, so it's best to
compare the options and see which of them is best for you if you need to hire
one. The costs you'll incur for the conveyancing services you use will be based
on things such as the loan amount and the complexity of the conveyancing work
that's required.

© Copyright 2023 Chestnut. All Rights Reserved. Privacy Policy Terms of Use

Chestnut is a trading name of Capital B Property Finance Ltd which is a company
registered in England and Wales under number 11075384 registered office
Broadgate Tower, Level 20, 20 Primrose Street London EC2A 2EW, UNITED KINGDOM.
Capital B Property Finance Ltd is authorised and regulated by the Financial
Conduct Authority (913612).

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY. YOUR PROPERTY
MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER
DEBT SECURED ON IT.