A bridging loan is a short-term, property-backed loan designed to provide fast funding while you arrange longer-term finance or complete a transaction.

Funds can be used for ANY business purpose, the list is exhaustive. Some of our most common loan uses include: Purchasing an investment property or a premises Refinancing an existing loan Short term emergency finance Renovation or refurbishment of a property Business cashflow Landlords needing equity release Working capital Purchasing stock or equipment Paying staff or suppliers Expanding or acquiring a business Paying a tax bill Growth plans Funding a management buyout If you don’t see your business purpose above, we could probably still lend. Talk to our team about how we can help.

We aim to approve loans, subject to a valuation and underwriting, within 30 minutes of your application. Funding can often be arranged in a matter of days, depending on the complexity of your application. Once you agree to the decision in principle the completion time is up to you and your solicitors. The time scale depends on a few factors beyond our control such as second charge consent, if applicable, and the availability of local surveyors and your solicitors but we have been known to complete a case within 7 days. If your case is urgent and you need a quick completion, please advise your case manager as to the deadline date and the reason why, we will then be able to offer a fast track service.

You can borrow from £27,500 up to £3 million, depending on your property and circumstances.

Rates start from 0.71% per month, with loan terms from 1 month to 3 years. Representative example: Based on interest only bridging loan. If you borrow £100,000 over 1 year at a rate of 0.6% pcm / 7.2% p.a fixed for the term, you will pay 12 instalments of £600 per month and a total amount payable of £109,850. This includes repayment of the net loan, interest of £7,200, an arrangement fee of £2,000 and administration fee of £650. The overall cost for comparison is 9.85% APRC.

You decide. You can opt to pay interest monthly or pay at the end of the loan period - or a combination of both. Most Borrowers like to pay all their interest at the end of the loan term. The interest rate is a fixed figure displayed monthly. The interest does not compound. The interest does not fluctuate and it is not variable. Representative example: Based on interest only bridging loan. If you borrow £100,000 over 1 year at a rate of 0.6% pcm / 7.2% p.a fixed for the term, you will pay 12 instalments of £600 per month and a total amount payable of £109,850. This includes repayment of the net loan, interest of £7,200, an arrangement fee of £2,000 and administration fee of £650. The overall cost for comparison is 9.85% APRC.

No. We consider applications on a case-by-case basis, and bad credit does not automatically disqualify you. We lend based on the value of your property. Adverse credit can include things like: Missed payments Defaults or CCJs Arrears Low credit scores We’ll still look to lend.

We will lend against all types of UK property including: Residential property (unregulated) Residential developments Commercial property Commercial developments Mixed use property schemes Offices Retail Land, farms and agricultural Investment property – residential and commercial Auction Somo loans are unregulated. Any property used as security is at risk of repossession if you do not keep up with your payments. If you are unsure about any aspect of the information provided by the company, you should seek advice from an independent financial adviser.

No. We don’t require business accounts, bank statements, or business plans, helping keep the process quick and simple.

Bridging loans are typically repaid through an exit strategy. All our loans require at least one exit strategy. For example: Sale of the security or another property Pension Funds due from a business Funds due from a divorce Refinance onto a high street mortgage, a BTL mortgage or a commercial mortgage Investments Sale of other assets