Bridging Loans Northern Ireland

If you’re looking for a bridging loan in Northern Ireland or want to learn more about them, this page could provide you with the answers you’re looking for.

You can use your bridging finance to secure Northern Ireland real estate or to develop an existing property. In a commercial setting, you’ll need to move quickly, and that’s why bridging finance is so popular.

Firstly, what is a bridging loan?

A bridging loan offers fast and flexible financing for property developers, landlords or homebuyers. These loans are typically used to bridge the gap between selling your current home and buying a new one.

This is where the term “bridging loan” comes from as, no matter the purpose, the money is almost always used to bridge a financial gap. You can secure your bridging loan in Northern Ireland against almost any UK property.

Borrowers can use the loan money for pretty much anything. Still, they are mainly used by property developers and people who want to purchase a new property, but, in this case, it would take them too long to get a traditional mortgage, or they fall short of lender requirements.

Arranging a property loan through a traditional vendor is a time-consuming process. It can take several months to complete a traditional mortgage application, and it can even take the bank several weeks to deny your application, which means more lost time. A bridging loan can help when you’d rather avoid all this fuss.

Repay the loan with a robust exit strategy — move over to a self-build mortgage, sell your property for a profit, or remortgage.

You can secure your bridging loan against almost all properties, including commercial and residential properties, building plots, and land where you don’t have planning permission.

Suggested reading: Can I use a bridging loan to buy land?

Bridging loans for homebuyers in Northern Ireland

Bridging loans offer several solutions to people looking to buy a property. We’ve listed just a few below.

• If you find a new property you want to purchase before finalising the sale of your current home, you can gain fast access to the money needed to secure your new property.
• It can be difficult to get the money for self-building projects, including conservation and renovation. The option to ‘roll up’ the interest on a bridging loan may provide an attractive option for self-build projects, allowing you to avoid monthly interest payments and spend your budget on the build.
• You’ll typically need to pay a 10% deposit to secure property at an auction. Having a bridging loan can help to do this while you secure the rest of the money.

 

 

What else can I use my bridging loan for?

In addition to buying a new private home, there are plenty more ways in which bridging loans can be used:

• Business financing – your bridging loan can help cover start-up or other short-term business costs. The money also helps pay taxes when you can’t raise the lump sum needed without assistance.
• Development financing – securing a bridging loan could be a great option if you want to buy derelict properties to renovate and flip.
• Land purchase – bridging loans can help when you want to buy land that isn’t intended for development, whether it’s for your personal use or to turn into a commercial property.

 

Northern Ireland bridging loan companies

If you’re looking for bridging finance in Northern Ireland, you’ll find that there are fewer lenders to choose from. That’s because there are fewer lenders operating in Northern Ireland, and the ones that do may only work within certain areas.

Applying for an unregulated bridging loan (for commercial projects) may be your best option in Northern Ireland, but we’d recommend seeking expert advice to get through the process quickly and effectively.

At Bridging Loans Directory, we work with a variety of bridging loan companies, but there are four in particular that operate in Northern Ireland. Read below to learn more about each.

Ortus Secured Finance

Established in 2013, Ortus Secured Finance can offer anything from £100k for a standard bridging loan, to £25m for a commercial loan. With offices in Belfast, their local market knowledge and physical presence can mean quick decisions.

Find out more about Ortus Secured Finance.

Funding 365

With a Northern Irish Managing Director, the move into funding property in Northern Ireland was a natural move for this award-winning bridging and development lender. Following a successful soft launch, it announced in January 2024 the official release of its unregulated Northern Ireland Residential Bridge product for loans between £100,000 and £2 million with rates from 0.84% per month.

Find out more about Funding 365

TFG Capital

Established in 2014, provides companies and property professionals with a direct route to no nonsense bridging finance with lending decisions based solely on the security value.

Find out more about TFG Capital

Fiduciam

Backed by a large funding pool and with committed shareholders, Fiduciam is an institutionally funded and pension-fund owned provider of bridging loans, with an aim to support small businesses with their lending. They have a well-documented track record for supporting projects in Northern Ireland, providing bridging loans between £250k and £25m.

Find out more about Fiduciam.

How to arrange bridging finance in Northern Ireland

We hope that this blog has taught you a little more about bridging finance and that you feel a lot more comfortable taking a bridging loan in Northern Ireland.

If so, we’d be more than happy to help you find the best bridging finance product for your needs through our directory. Not all loans are created equal, so it’s important to find the best loan for you.

We always recommend speaking with a few different providers to get the best possible deal on your bridging loan in Northern Ireland. If you would like help with calculating fees, then use our bridging loan calculator.