A bridging loan could fill the gap if you are waiting to sell your home or for funds to clear. Compare loans to buy a house and find one with a low interest rate to cover the cost of your property.
Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.
1
About your home
Tell us about your property – the type of building, the address and your postcode.
2
A bit about what you need
Tell us how much you want to borrow and for how long, we’ll show you loans you’re eligible for.
3
View your options
Once you’ve decided on a loan you can make your full application adding your name and email address.
Think carefully before securing other debts against your home. You home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
| Available On Properties In England | |
| Available On Properties In Wales | |
| Minimum Loan | £75,000 |
| Maximum Loan | £2,500,000 |
| Minimum Property Value | £100,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £50,000 |
| Maximum Loan | £25,000,000 |
| Minimum Property Value | £200,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £125,000 |
| Maximum Loan | £25,000,000 |
| Minimum Property Value | £150,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £50,000 |
| Maximum Loan | £1,000,000 |
| Minimum Property Value | £100,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £75,000 |
| Maximum Loan | £15,000,000 |
| Minimum Property Value | £100,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Wales | |
| Minimum Loan | £50,000 |
| Maximum Loan | £1,500,000 |
| Minimum Property Value | £150,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £50,000 |
| Maximum Loan | £5,000,000 |
| Minimum Property Value | £50,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Wales | |
| Minimum Loan | £50,000 |
| Maximum Loan | £5,000,000 |
| Minimum Property Value | £200,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Wales | |
| Minimum Loan | £100,000 |
| Maximum Loan | £4,000,000 |
| UK Residents |
| Available On Properties In England | |
| Available On Properties In Scotland | |
| Available On Properties In Wales | |
| Minimum Loan | £75,000 |
| Maximum Loan | £3,000,000 |
| Minimum Property Value | £50,000 |
| UK Residents |
| Based on borrowing | £158,000 over 1 year | The overall cost of comparison | 11.6% APRC representative |
|---|---|---|---|
| Interest rate | 8.30% fixed for 1 year (12 instalments of £1,127.75 pm) | Broker fee | £995 |
| Lender fee | £3185 | Total amount payable | £171,533.00 inc. interest of £13,533.00 |
Before you look for a loan to buy a house, it's useful to know:
The amount you need to borrow: Work out how much you need, this will help you find the right loan to buy a house.
Loan term: Think about how long you need the loan for. The longer the term, the more it can cost you overall in interest.
If you have a mortgage: This will affect the type of bridging loan you can choose e.g. first charge or second charge loan.
The value of your property: This will determine how much you can borrow.
Your exit strategy: Outlines how you will repay the loan.
Once you know all this information you are ready to look for a bridging loan to buy a house.
The type of bridging loan you need depends on your circumstances. There are two common types:
These have no set end date. This means they can be repaid whenever your funds become available. They usually last for up to a year, and sometimes even longer.
These have a fixed end date. This date is usually based on when you know you'll have funds available to pay back what you know. They're usually short-term bridging loans, lasting just a few weeks or months.
Calculate what percentage of the property's value you need the loan to fund.
For example, an LTV (loan to value) of 60% on a house worth £200,000 will give you a loan of £120,000. You will need to provide the remaining 40% (£80,000).
Our comparison shows the maximum LTV each provider offers.
If you already have a mortgage on your property, it's likely you will be offered a lower LTV. This is known as a "second charge" loan. Here is more on the legal charges.
You're likely to face several expenses as part of the process, such as:
Facility fees: Are charged by the lender. They can be up to 2% of the loan amount.
Legal costs: Some lenders require you to pay their solicitors' costs in addition to yours.
Exit fees: Can be charged if you pay the loan back early. It's usually around 1%.
Valuation fees: For a surveyor to value your property.
Broker commission: Fee charged by brokers for arranging the loan.
You can find out more information on the fees and charges here.
A realistic exit strategy will help you plan the loan repayment, for example, having a buyer for your home already in place. Without this you could end up stuck with an expensive loan.
How and when you repay the loan depends on your circumstances and the type of bridging loan you have. You can find out more on repaying the loan here.
Finally, before you apply consider seeking independent financial advice. This could help to determine if a bridging loan is the right option for you, otherwise, you may end up with an expensive financial burden and negatively affect your credit record.
Exactly what is a loan? What can you use it for and how do you get one? Find answers to all your questions about loans here.
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Read MoreWhen you miss a payment on your loan, you'll be charged a fee. You may be issued with a County Court Judgement or have to declare yourself bankrupt if you continue to miss payments.
Read MoreComparing loans could help you save money. Our award-winning loan comparison service makes sure you get our best interest rates. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.
We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.
Last updated: 25 April, 2022
