Bridging loan lenders and eligibility

If you’re in a hurry to buy a property or need short-term finance to bridge a gap, a bridging loan can be a handy solution. But before you apply, it’s important to know whether you meet the basic criteria for these products – and to understand what types of lenders are out there offering this kind of finance.

In this guide, we’ll look at where you can find bridging loans and the typical eligibility criteria for getting one.

Which lenders offer bridging loans?

Bridging loans are offered by a select number of banks and building societies, as well as specialist lenders who focus on short-term, fast-turnaround finance. These lenders understand the kind of tight deadlines that customers seeking bridging loans typically face.

Some lenders specialise in consumer bridging loans – for example, helping people buy a new home before selling their current one. Others are more geared towards commercial bridging loans, like funding property development or snapping up an auction property. Some will offer both.

You’re unlikely to find this type of loan on offer from high street banks. That’s because bridging finance doesn’t fit the mould of a traditional mortgage or personal loan. It’s short-term, often complex, and usually needs a quicker and more tailored underwriting process. That’s something specialist lenders are much better set up to handle.

There are also lenders that provide re-bridging loans. This is essentially a second bridging loan used to repay the first, usually when the original exit plan hasn’t gone quite to schedule. This can happen if a property sale is delayed or refinancing takes longer than expected.

Not every lender is open to re-bridging, but there are some that specialise in it, as long as the borrower still has a viable plan to repay.

What bridging loan lenders look for

So, what do you actually need to qualify for a bridging loan? While criteria can vary slightly from lender to lender, most follow a similar set of rules – though there’s usually more flexibility here than with a standard mortgage. Here’s a breakdown of what lenders typically look for, and the kinds of situations they’ll consider.

A solid exit strategy

This is the big one. Lenders want to know how you plan to repay the loan. That could be selling a property, refinancing onto a mortgage, or unlocking funds from elsewhere. The more realistic and viable your plan, the more confident a lender will feel. If your strategy clearly fits within the loan term (usually up to 12 months, sometimes longer), you're already off to a strong start.

Suitable property as security

You’ll need to secure the loan against a property or other large asset. This can include residential homes, HMOs (Houses in Multiple Occupation), mixed-use buildings, or even land with planning permission. The key is that the asset has enough value to comfortably support the loan.

Lenders will typically go up to around 75% loan-to-value (LTV), and may base this on the Open Market Value rather than the purchase price. This is especially useful if you’re buying property that you snagged well below market value. Some may even offer desktop valuations to speed things up.

Flexibility around borrower type

Whether you’re applying as an individual, a company, or even through a trust, there are lenders that cater for all types. Some loans are aimed at experienced property investors or developers, while others are open to first-time borrowers, as long as the deal makes sense.

No income proof (in some cases)

If your exit plan involves selling the property, there may be no need to provide proof of income, since the loan isn’t being repaid through monthly payments. This can make bridging loans a suitable option if you're between jobs, self-employed, or have income from unusual sources.

Leniency on credit history

Some bridging lenders take a more relaxed view on credit issues compared to mainstream lenders. You might find that they are quite happy to consider your application if you’ve had defaults, CCJs, arrears, or even past bankruptcies, provided there’s enough equity in the property and the exit strategy adds up.

Age limit

Age isn’t always a dealbreaker with bridging finance. While at least one lender of regulated bridging loans has a maximum age limit of around 85, some offer plans with no upper age limit at all.

Can you extend a bridging loan if your plans change?

Life happens, and sometimes things don’t go according to plan. Maybe your property sale has fallen through, or refinancing is taking longer than expected. That’s where re-bridging loans come in.

If you’ve already got a bridging loan but need more time, a re-bridge could give you a few extra months to get everything lined up. You’ll usually need to explain what’s changed, and what’s different this time. As long as your exit is still achievable and the property has enough equity, some lenders may be open to it.

Could a bridging loan work for you?

Bridging loans can be a fantastic tool when speed and flexibility are key – but they’re not for everyone. Knowing whether you’re eligible, and understanding how lenders assess applications, is a great first step.

While you won’t find bridging loans on every high street, there’s a good range of UK lenders out there offering them, especially in the specialist space. Get clear on your exit strategy, line up a solid security asset, and be upfront about your finances. Do that, and you’ll put yourself in a strong position to secure bridging finance when you need it most.