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How Much Can you borrow with a Bridging Loan? the amount you can borrow with a bridging loan is determined by the value of the property, not your income it basically works on a loan to value basis, so with a bridging loan of £75,000 against a property value of £100,000 then the loan to value is 75% many bridging lenders will go up to 75 % on a first charge bridging loans and if you are able to offer more properties for the security then up to 100% of a single property can be borrowed against, bridging loans are on either a first charge basis or second charge with a first charge the bridging loan lender is the only one with a charge on the property so there is no other outstanding loans or mortgages registered as security against the property, this type of funding will give you the maximum loan to value as the lender has control of the property should anything go wrong, with a second charge bridging loan the lender sits behind the first charge say your mortgage company who has a first charge this is less secure than a first charge so the amount you can borrow is not as much as the security is of less value to the lender and the first charge lender is always paid out first, with this type of loan you can only get up to 60-65% of the loan to value and you have to take into account the first charge on this so if you had a property worth £200,000 and a mortgage of say £100,000 you could only get 65% of the £200,000 which is £130,000 but you then have to take off the existing loan of £100,000 which means you can only release £30,000. You really need to get the best quote for your loan by comparing what lenders have on offer.
The amount in value that you can borrow is really only limited by the value of the property bridging loans can even be taken out on high-value properties of up to say £10m and the loan to values work in exactly the same way as with a smaller value property so there is no upper limit on the amounts on offer.
The good thing about bridging finance is that they do not take into account your earnings they are only interested in the loan to value of the loan against the property that is offered for the loan, so no proof of income is required in order for you to get a loan, with a traditional mortgage you would have to prove your earnings to show that you can keep up the repayments this is not required with bridging.
So to recap there is no upper limit on the amount you can borrow the only restrictions are the loan to value of the loan less any debt you already have secured against the property, the only other thing to mention is that bridging loans start at a minimum value of £30,000 no lenders would entertain making a loan for less than this amount.
