Bridging

  • Initial interest rate:

    7.0% variable

  • For comparison purposes:

    9.1% APRC 

  • Fees:

    0.75% purchase

    0.75% remortgage

  • Maximum LTV:

    75%

  • Early repayment charge:

    Yes

  • Overpayments allowed
  • Portable

Your home may be repossessed if you do not keep up repayments on your mortgage.

Interest rates:

  • During the 3 year deal: 

           7%(our standard variable rate minus 1%)

  • After deal ends:

         Our standard variable rate (currently 6.00%)

  • For comparison purposes:

            9.1% APRC

Maximum LTV:

  • 75%

Fees:

  • Purchase application fee: 0.75%
  • Mortgage exit administration fee (MEAF): £100

Loan size:

  • £50,000 (min) - £500,000 (max)

Overpayments:

Yes, overpayments are allowed

Early repayment charge (ERC):

No early repayment charge payable

Representative example:

A mortgage of £572,423.00 payable over 1 year on our standard variable rate currently 6.00% plus 1.00% giving a current rate of 7.00% for the mortgage term of 1 year would require 12 monthly payments of £3,339.13.

The total amount payable would be £621,878.56 made up of the loan amount plus interest of £40,069.56 a booking fee of £4,293, an application fee of £4,293, a valuation fee of £700 and a MEAF of £100.

The overall cost for comparison is 9.1% APRC representative. Please note this illustration is based on an interest only basis (capital and repayment is also available)

A representative example is based on a typical mortgage and the figures shown above are intended as a guide. Your actual rate, costs and monthly repayments will differ depending on your circumstances and the mortgage chosen.

Who’s eligible to apply?

  • Those purchasing a property.
  • The property must be located in England or Wales (London restrictions apply).

All mortgage deals shown on our website are subject to change and can be withdrawn without notice. Please speak to one of our mortgage advisers to find out which deal is most suitable for you.

Fees:

  • Application fees can be added to the mortgage and are refundable if the mortgage does not take place. 
  • We will pay the first £700 of the standard mortgage valuation (this will cover properies valued up to £1,000,000). If your valuation fee is more than £700, you are responsible for paying the difference.
  • A mortgage exit administration fee (MEAF) applies when you repay your mortgage. You may have to pay this if:
    Your mortgage term comes to an end;
    You transfer the loan to another lender; or
    You transfer borrowing from one property to another.

Other charges:

  • Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of Charges leaflet, which you will be given before your mortgage completes. They can also be found on our website. 

Portability:

  • All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge.