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Bridging Finance

Seriously Good Bridging Finance

Blueberry is a leading player in the short term finance market. We are known for our ability to get deals approved and funded quickly. Where required, we provide a fully underwritten exit strategy as part of the package.


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Bridging loans are ideal for individuals who need to access funds quickly, buying a property at auction or buying property that is not suitable for standard residential or buy to let mortgages. When arranging Bridging Finance, you need to be confident that you have an exit route to allow you to repay the loan; we’ll arrange this for you as part of the application process.

Light Refurbishment
LTV <40% = 0.65%
LTV 50% = 0.75%
LTV <60% = 0.80%
LTV <65% = 0.85%
LTV <70% = 0.95%
LTV <75% = 1.15%
Heavy Refurbishment
LTV <40% = 0.75%
LTV 50% = 0.85%
LTV 60% = 0.90%
LTV <65% = 0.95%
LTV <70% = 1.05%
LTV <75% = 1.25%*
Second Charge Lending
LTV <40% = 0.90%
LTV 50% = 0.95%
LTV 60% = 1.05%
LTV <65% = 1.15%
LTV <70% = 1.20%
LTV <75% = N/A

All rates are per month. * May be available subject to additional security or guarantees.


Standard Bridging
Where short term finance is required and is secured on a residential or investment property.
Light Refurbishment

Where short term finance is required for properties where:

  • No planning permission/building
    regulations are required
  • No change in overall use/nature of the premises
Heavy Refurbishment
Where short term finance is required for properties where:
  • Planning permission/building
    regulations are required
  • Change in overall use/nature of the premises
Standard Bridging
Examples of what we can assist with:
  • Buying property at auction
  • Cash flow - funding for short term
    cash flow requirements
  • Chain-break finance
  • Meeting tight transaction deadlines
  • Landlords who want to buy a
    property quickly
Light Refurbishment
Examples of what we can assist with:
  • Extensions
  • Basement digs
  • Loft conversions
  • Single unit to multi-unit
  • Multi-unit to single unit
  • Commercial to residential (owner
    occupied and BTL/investment)
  • Barn conversions
Heavy Refurbishment
Examples of what we can assist with:
  • Extensions
  • Basement digs
  • Loft conversions
  • Single unit to multi-unit
  • Multi-unit to single unit
  • Commercial to residential (owner
    occupied and BTL/investment)
  • Barn conversions
Standard Bridging
What we will lend on:
  • Residential properties
  • Investment properties
Light Refurbishment
What we will lend on:
  • Limited companies
  • Security on first and/or second charge basis
Heavy Refurbishment
What we will lend on:
  • Individual applications
  • Off-shore SPV’s
Are you refurbishing a buy to let property?
Any refurbishment bridging loan can exit onto any buy to let product after completion of the bridging loan. Standard criteria applies to both the bridging and buy to let loans.


Product Features
  • Regulated Mortgage Contracts maximum 12 month term and advised sales only
  • No exit fee
  • No early repayment charges (minimum of 1 month’s interest must be paid)
  • First and second charge lending (restrictions apply to second charge lending – see criteria guide)
  • Interest can be paid monthly or retained for the full term of the loan (Regulated Mortgage Contracts must be retained interest)
  • The lower of the LTV/LTP will be used
  • A £295 assessment fee applies to all schemes
  • Higher LTVs are available with the provision of additional security (first or second charge basis)


Product Criteria
Loan Size: Minimum £50,000 - no maximum loan size.

Term:
1-18 Months (maximum 12 months for Regulated Mortgage Contracts).

Minimum property value:
£50,000 (£100,000 London).

Facility fee:
2%

Locations:
Available in England, Wales and selected postcodes in Scotland.

Customers:
UK/EEA Nationals and limited companies accepted, providing these are set up with the specific and sole purpose of
purchase, management and sale of investment property (SPVs). Regulated Mortgage Contracts are only available to individual applications.

Maximum LTVs:  
Standard Bridging: 75%
Light Refurbishment: 70%
Heavy Refurbishment: 70%
Second Charge Lending: 70%
›Loans between £1,000,000 and £2,000,000: 70%
Loans above £2,000,001: 60%
Regulated Mortgage Contracts: 70%
Maximum LTP: 90%


Valuation scale & fees (for first and second charge lending)
Property valuation up to (£) Standard bridging Light & heavy refurbishment
£100,000 £225 £250
£150,000 £250 £275
£200,000 £275 £300
£300,000 £300 £325
£400,000 £350 £375
£500,000 £400 £425
£600,000 £450 £475
£700,000 £500 £525
£800,000 £550 £575
£900,000 £600 £625
£1,000,000 £700 £725
> £1,000,000 Contact us Contact us
  • Where more than one property is used as security for the loan we require each property to be valued. The charge for each valuation will be as per the table above and is non-refundable.
  • In all instances the valuation will be carried out by the lender.
  • All of the above fees are inclusive of VAT.


Legal fees
Net loan size Fee for separate legal representation Fee for joint legal representation
Up to £250,000 £450 £600
£250,001 to £500,000 £600 £750
£500,001 to £750,000 £750 £900
£750,001 to £1,000,000 £900 £1,050
£1,000,000 to £1,500,000 £1,150 £1,300
£1,500,000 to £2,000,000 £1,400 £1,550
> £2,000,000 Contact us Contact us
  • Additional charge of £100.00 is applicable if the borrower is a limited company (which includes obtaining personal guarantees).
  • If more than one property is to be used as security there will be an additional charge of £100 per property.
  • Above legal fees exclude VAT and disbursements.
  • Legal fees are paid directly to Goldsmith Williams for England and Wales and Your Conveyancer in Scotland.
  • Joint legal representation is currently only available in England and Wales.


Rental income calculator
Rental income calculator

This calculator will tell you what rental income is required based on the value of the property and the loan required.

Blueberry Conveyancing
Blueberry Conveyancing

When you arrange your re-mortgage with Blueberry we can complete all the legal work for you. Joined up thinking which could save you time and money, so you complete your re-mortgage sooner

How much can I borrow?
How much can I borrow?

This calculator from Santander is great at assessing your income and expenditure so you get a projection of how much you can afford to borrow.

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