What is a bridging loan?

It is an interest-only short term loan secured on land or property. We will secure by way of a first charge.

What is a first charge?

A first charge is the primary mortgage or loan secured against the property which takes precedence over all other finance secured against it.

What are the main uses of bridging loans?

Bridging loans can be used in both commercial and residential property transactions.

Homebuyers, home builders, property converters, landlords, property developers and investors can use the short term loan. Whether buying a property, building a property or raising funds for a refurbishment project, short term bridging finance can be an option.

We offer non-regulated bridging finance and our products are not available if you or a member of your family plan to live in the property now or in the future.

I’m buying a property at auction and need funds quickly, is bridging finance an option?

Bridging is ideal for use when buying a property at auction as borrowers are able to gain access to funds quickly which is a necessity with auction purchases.

Where do you get your funds from?

Seneca has a range of funds which are usually provided by private investors.

Where do you lend?

We lend only against property based in the UK.

How long can I take a loan for?

A bridging loan is designed to be short term and is generally taken out for a term of between 1 and 12 months.

What is the minimum amount you will lend?


What interest rate will I pay?

Rates will depend on a number of factors but not limited to, the loan to value ratio and the quality of the security, and these are individually priced on a case by case basis.

The interest rates on bridging loans are typically higher than standard/normal mortgages as they often carry more risk to the lender. We aim to provide short term funding at a predictable cost to borrowers.

Is a valuation required?

Yes. The fee is payable by the borrower prior to Seneca instructing surveyors and will vary depending on the type of property, location and value.

How long will it take to get a decision?

If you have supplied all the necessary information we need, in most cases we will give you an immediate decision.

Will I need a solicitor?

We will instruct a solicitor to act for Seneca to investigate title, prepare the loan agreement, and to execute the mortgage debenture and any guarantee documents (as defined in the Heads of Terms). They will also register the charge on the property and all such legal fees will be borne by the borrower. The legal fees are payable whether the loan proceeds or not. It is recommended that the borrower gets independent legal advice prior to signing any legal documents and entering into a bridging loan. The process provides protection for both the borrower and the lender.

Do I need to speak to a broker to take out a bridging loan?

You can arrange finance with Seneca via a broker or by coming to us direct.

Can I repay the loan early?

Yes, you can repay the loan early usually without penalty.

What is an exit route?

An exit route is a predetermined strategy to enable you to receive funds to pay back your loan within the required term. A sound and viable exit plan is essential in any loan application.

Why should I consider Seneca?

We are quick and professional with vast knowledge and experience. We provide the personal touch, we visit every property we lend on and meet everyone we lend to.

Every bridging loan is different, at Seneca all cases are considered on their own merit and individually priced with competitive rates. We lend our own funds so we don’t need to consult other lenders or banks.

We are not an aggressive lender, instead we are flexible and work with borrowers in difficulty.