Do High Street Banks Offer Bridging Loans?

When people look at bridging finance, one of the first things they’re likely to ask is it bridge loans are available from the big-name high street banks such as Barclays, HSBC and NatWest. If you have been with one of these banks for many years, it makes sense that they would be the ideal place to go if you need this kind of short-term finance.

However, bridging loans UK are niche products, which means they’re not always easy to source from high street banks. These loans are designed for short-term funding needs like buying a property before you sell an old one, purchasing properties at auction and getting access to capital within days rather than weeks. High street banks are usually more focused on long-term mortgages and personal loans rather than this kind of finance, although some do have Private Banking divisions which will offer similar products to business customers.

If you’ve been wondering whether banks like Barclays, HSBC and NatWest offer bridging finance, read on.

Do Barclays Offer Bridging Loans?

Barclays don’t offer retail bridging loan product, so if you approach them about this they will most likely discuss their long-term mortgages or business lending facilities with you instead. The bank may sometimes offer short-term solutions for corporate clients who have high-value assets, but this is not the same as a bridging loan.

You’re unlikely to get anything resembling bridging finance from Barclays if you’re an individual property buyer, investor or a landlord. This is why so many Barclays customers look elsewhere when they need specialist bridging finance.

Find out more about Barclays bridging loans here.

Do HSBC Offer Bridging Loans – Are They Available?

HSBC does not provide bridging loans as part of its retail services. The bank instead focuses on things like mortgages, personal loans, credit cards and savings accounts. Corporate clients can sometimes get access to tailored finance products, but bridging finance isn’t not available for homeowners, landlords and property developers that need short-term finance. If you’re an HSBC customer who needs quick access to funds in the form of bridging finance, you can get the best results by using a specialist broker.

Here’s more about HSBC bridging loans.

Do NatWest Offer Bridging Loans – What You Need to Know

NatWest does have a Social & Community Capital division which offers bridging loans but the criteria are very specific. These loans are aimed at social enterprises that are waiting for grant funding or VAT rebates. They’re not designed for property transactions. Fees including charges for approval, arrangement and commitment. For most borrowers, approaching a specialist broker is still the best route to take if you’re looking for bridging finance.

More information about NatWest’s approach to bridge loans is available here.

Do Lloyds Offer Bridging Finance – Options and Alternatives

Unlike most of their competitors, Lloyds does offer bridging loans. The loans are only available through Lloyds Prive Banking. The bank offers open bridging loans where there’s no fixed repayment date as well as closed bridging loans, where you need to pay back by a certain date. The facility is only open to people who are eligible for Lloyds Private Banking. If you’re a standard retail customer, you won’t be able to get a bridge loan from Lloyds either online or in a branch.

Get more information about Lloyds Bridging Finance.

Does Halifax and Bank of Scotland Offer Bridging Loans

Halifax have offered bridging loans in the past, but there is now no evidence that these services are still available on their website. If you do approach Halifax for financial help, you’re more likely to be directed to mortgages and personal loans. These aren’t a great match when you need access to money within days rather than weeks or months. Halifax is a trading division of Bank of Scotland.

With Bank of Scotland Private Banking, open and closed bridging facilities are available. BoS will need to be “satisfied with your status and financial standing” before they offer you this kind of help.

More about Halifax bridging loans

Further information on Bank of Scotland bridging finance

Alternatives to High Street Banks for Bridging Finance

With most mainstream banks failing to offer bridging loans to their everyday customers, it’s no wonder so many people are looking elsewhere when they need quick access to bridging finance. Unless you meet the eligibility for private banking services, it can be exceptionally hard to get bridging finance from a mainstream lender when you need it.

Most borrowers need to approach specialist bridging lenders when they’re looking for bridging finance. These providers have strong relationships with hundreds of lenders and can use their knowledge to get you the best deal possible. They can make it easier for you to lend against properties that mainstream banks won’t be interested in and help you find bespoke finance that’s tailored directly towards your needs.

When you work with a broker like Bridge Loan Direct, you have access to a wide panel of lenders and products that aren’t advertised publicly. Your specialist broker will work closely alongside you to compare rates, terms and lending criteria so you can get the best and most suitable product for your situation. you have access to a wide panel of lenders and products that aren’t advertised publicly. Use our bridging loan cost calculator to see what a specialist bridging loan could cost you, based on your own numbers.

Final thoughts

High street banks don’t normally offer retail bridging products, and the ones that do tend to have stringent lending criteria. This means specialist bridging lenders are the best option for many customers looking for speed, flexibility and tailored borrowing.