Bridging loans Scotland



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Scotland, much like the rest of the UK, has had a bumper few years for property, property development and investment.

Despite the economic turbulence of recent times, the demand for property has soared as people’s priorities around housing and their living spaces have changed following the coronavirus pandemic.

Whilst many older renters chose to move out of the city and into the suburbs ahead of plan, many younger renters decided to move away from home earlier than expected, which saw a huge surge of demand on the housing supply.

Subsequently, and logically, as supply struggled to keep up with demand this drove prices, rents and yields up on properties and so the incentive for landlords and investors to start developing property or increase their portfolio increased massively.

This has meant that the demand for finance, loans and bridging loans has exploded in correlation with this chance. The profits that can now be made in Scotland and across the UK have re-incentivised investors back into the market.

It’s also true that many finance providers have started specialising more in bridging loans and loans for property more generally in response to this rise in demand. Those looking for specialist bridging loans or loans for property are now having a much easier time in Scotland and across the UK thanks to this change.

Bridging loan rates

Rates for bridging loans in Scotland will vary depending on the loan provider, however, they will generally take each individual case on its own merits and quote you for finance on this basis. There are things that will affect the rate you’re offered such as your credit rating and history, the security you can provide and your record of success in using this type of finance in the past.


Do high street banks provide bridging loans

Bridging loans, bridging finance and this type of finance in general aren’t usually available through traditional banks or finance providers as it tends to be quite specialist and is only really designed for quite short-term projects.
It also tends to fall within a higher risk bracket which means that traditional high street banks in Scotland don’t tend to have the appetite for it whilst there are other specialist lenders and finance providers who will more than happily take on these clients.
Because banks in Scotland, generally speaking, prefer to go solely off your credit rating and history in a personal capacity, or as a business, they don’t really tend to offer these finance products. Bridging loans tend to be required by clients who may not have a credit rating high enough to qualify for traditional lending or finance, so bridging loans are designed more as a secured loan rather than traditional types of finance.

How long does it take to arrange a bridge loan in Scotland

It broadly depends on your circumstances and how well you meet the lending criteria for the lenders that we have on our panel, but that’s why we have a team of such experienced experts and brokers who can help you through the finance and bridging loans application process.
Once your application has been formalised and completed for your bridging loan, we can usually have the funds to you within 72 hours depending on which lender accepts you, however, broadly speaking Scottish bridge finance can be arranged much quicker than traditional types of funding.
Our panel of lenders know that when it comes to bridge finance time is of the essence and will look to arrange your funding in the quickest possible time so that you can get on with doing what you do best and get back to business.

Types of bridging finance

There are a number of different reasons why you might take out bridge finance, and it can be used for more or less anything so long as you meet the criteria for applications. Here we’ll run you through a few examples of what bridge finance may be used for so that you can get a feel of whether it’s right for you.

Residential property finance

Many of our Scottish clients apply for bridge finance when they’re looking to purchase a residential property so that they can either rent it out or sell it on at a good profit. In the short term, if the property needs work doing or development then clients will apply for funding in order to carry out this work before going on to either selling or, for example, arranging let mortgages as a landlord.
Most traditional lenders and banks won’t lend to clients if there is short term work required, or if the property doesn’t have tenants yet, for example, so many will use a bridging loan in order to plug the gap until their Scottish property is ready.

Commercial property finance

Some of our Scottish clients will also approach us looking to arrange a bridging loan for commercial property. Similarly to residential property, they’ll need short term finance in order to undertake works, development or renovation or they may, for example, want to extend the lease on the property in order to increase its value in the long term. This is a particularly popular reason to use a bridging loan and clients will often use them to increase the value of their property.


Bridging finance calculator for Scottish properties

We’ve attached our handy and easy to use bridging loan calculator for you to get an idea of what this type of loan, or bridging, would cost you depending on your circumstances.

It’s really easy to use and all you need is to fill in each section with how much you’re looking to borrow, what you can put up front, what type of rate you’re looking to pay and the term, and it will show you what you could qualify for.

Of course, our bridging finance calculator is illustrative and is designed to give you an example of what you might pay, so if you’re looking to get a better picture of what this type of loan or finance may cost you, then speak to one of our bridging finance experts who can run you through the process and discuss your circumstances with you.


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What can a bridge loan be used for?

Again, there are a number of different uses for a bridging loan and in many cases our clients with a poor credit history may use them in order to temporarily shore up their finances, for example. Commonly they’re used in the property market for short term improvements, but there are plenty of other reasons a client may take out a bridging loan.

Bridging for invoices

Many commercial customers struggle with cashflow if they’re waiting for invoices to be paid by their customers. A bridging loan can cover this gap for our clients until their invoices are paid and this can cover things like payroll and stopping bankruptcy petitions.

Property Auction Development Loans

A lot of our clients will use a bridging loan in order to purchase an auction property and use it for development. In many circumstances when buying from an auction the full payment needs to be made within 28 days, so they’ll use a bridging loan to cover the initial period before arranging a longer-term arrangement such as a mortgage.

Speak to a bridging loan advisor today

Our team of bridging loan advisors are experts in their field and have arranged millions of pounds worth of finance in the past for our clients.

Over the years we’ve spent time cultivating exclusive relationships with some of the best finance providers in the country to ensure that when our clients come to us looking for a bridging loan they’re offered some of the best rates and terms available.

Our panel of lenders know that when we submit an application to them, they’re getting quality applications that have the best chance of approval, and that we work closely with our clients in order to help them from start to finish.

We know that with a bridging loan speed is of the essence, and so we work closely with you from the start of your application to the end, helping you meet the criteria as quickly as possible with things like sorting out security, business plans and exit strategies for your bridging loan.

Further to that, we’re also able to offer our clients some exclusive deals with our panel of lenders due to the relationships we’ve built with them over the years, allowing us to provide our clients the best offers on the market for a bridging loan.

We also know that a bridging loan might not always be the best solution depending on your circumstances, so our brokers and experts have a wealth of knowledge about potential alternatives to a bridging loan, if it’s not right for you. They’re able to take the time out to ensure that you’re getting the best possible advice when it comes to a bridging loan.