Quick bridging, with the exit agreed before you draw.
For an auction purchase, an expiring bridge or a light refurbishment, the bridge is the easy part: up to 75% of value, from 0.69% a month, completing in 7 to 14 days on clean residential security. What decides whether it works is the exit. We size the bridge from the exit backwards, a buy to let or commercial term loan the lender has already indicated, or a sale at a value the market supports, so the loan that goes on can come off.
By Dominic Whitecross, Co-Founder, HyLend. Last reviewed October 2026.
Three situations, one method
| Situation | The deadline | The exit | What has to be true on day one |
|---|---|---|---|
| Auction purchase | 28 days from the hammer | Term loan sized on rent and value at 75%, or resale | Legal pack reviewed before you bid; AIP from the term lender before completion |
| Expiring bridge | Before the current lender's deadline | Term refinance at the stressed rental cover, or sale already under offer | Lender's redemption figure and the exit evidence; a re bridge only if the exit is dated |
| Light refurbishment | Purchase plus 3 to 6 months of works | Buy to let at the post works value and rent, or sale | Schedule of works, contractor quote, post works valuation assumptions |
Light refurbishment means cosmetic works with no structural change or planning, usually under 15% to 25% of value, so the bridge sizes on the purchase price and the exit on the finished property. Where lenders draw the line →
Exit one: refinance onto a buy to let or term loan
A term lender sizes its loan twice and takes the lower: a percentage of value, usually 75% on buy to let and 65% to 75% on commercial, and the loan the rent can carry at a stressed rate, typically 125% to 145% cover at 5.5% to 7.5%. The bridge must sit inside the lower figure, with the retained interest and fees added, or it cannot be repaid by refinancing.
Worked example: auction purchase at £320,000, light refurbishment £35,000, post works value £420,000, rent £2,100 a month. The term lender's value test allows £315,000; its cover test at 130% and 6.5% allows 25,200 / (1.30 x 0.065) = £298,000, so the exit loan is £298,000. A bridge of £240,000 gross at 75% of purchase, with works from cash, sits comfortably inside it. A bridge of £300,000 including the works would not, and the deal is reshaped before anyone bids, not in month eleven. Run yours on the free deal sheet →
Exit two: sale on the open market
A sale exit is tested on three things: the value the bridging lender's valuer gives, which on an auction lot or a quick resale is often a 90 day figure 10% to 15% below open market; the time to sell plus conveyancing, usually four to six months on residential; and the costs that come off the top, agent, legals, and the bridge's own interest for the extra months. A bridge at 75% of a 90 day value with a nine month term is a sale exit that survives a slow market. A bridge at 75% of an optimistic open market value with a six month term is a refinance in disguise, and we say so. 90 and 180 day valuations →
How fast is realistic
| What happens | And in parallel | |
|---|---|---|
| Day 0 | Deal sent: address, price, works, rent, exit | Indicative bridge terms and the term lender's indicative figure within 24 hours |
| Days 1 to 3 | Valuation booked; automated or desktop where the asset qualifies | Solicitors instructed both sides; legal pack reviewed on auction lots |
| Days 3 to 10 | Valuation reported; underwriting; offer | Term lender's AIP in hand so the exit is evidenced, not intended |
| Days 7 to 14 | Completion on clean residential security | Later where title, leasehold or a physical valuation slow it |
The honest version of 48 hours, and a deadline checker, is on the fast bridging page. Auction specifics, including bidding with terms in hand, are on the auction finance page.
What it costs, and what we do with it
Rate from 0.69% a month at low leverage on residential, 0.75% to 0.95% at 70% to 75% or on semi commercial; arrangement fee about 2%; valuation and legals on both sides; no exit fee on most facilities we place. On a £240,000 bridge over nine months that is roughly £22,000 to £28,000 all in. Every line, with worked examples →
What you get from us before the bridge is drawn: both exit tests run on your numbers, the term lender's indicative figure or the sale value basis in writing, and a bridge sized so the exit repays it with headroom. If the exit does not work, we tell you that first, because a bridge without a working exit is the most expensive loan in property.
How we place it
We quote the bridge and the exit together: the bridging lender's terms and the term lender's indicative loan, or the sale basis the valuer will apply, in the same reply. Whole of market on both, within 24 hours, and the bridge is only drawn once the exit is evidenced.
Send the basics
Asset, amount, timeline and exit. Lender backed indicative terms within 24 hours, tested across the whole market rather than a single panel.
Send the basics → or call 07310 008347, or WhatsApp +44 7741 434395.
Exit first bridging: FAQs
How quickly can a bridging loan complete for an auction purchase?
Seven to fourteen days on clean residential security, which fits the 28 day auction window if the legal pack is reviewed and solicitors are instructed on day one. Have indicative terms before you bid; an automated valuation where the lot qualifies saves a week.
Can I refinance a bridging loan onto a buy to let mortgage?
Yes, provided the property is let or lettable and the term lender's two tests, value at 75% and rental cover at a stressed rate, give a loan at least as large as the bridge plus retained interest and fees. We test that before the bridge is drawn.
What if my bridging loan is about to expire?
Send the redemption figure and the exit evidence today. If a term refinance or a sale under offer repays it, that is the route; if the exit needs more time with a dated plan, a re bridge at a lower rate than default interest is arranged before the deadline, not after.
Can I use a bridging loan for a light refurbishment and then sell?
Yes. The bridge sizes on the purchase price, works come from cash or a small tranche, and the sale exit is tested on a 90 day value with four to six months allowed to sell. A nine or twelve month term gives the sale room; six months usually does not.
What does an exit first bridge cost?
The same as any bridge: from 0.69% a month, about 2% arrangement fee, valuation and legals, so roughly £22,000 to £28,000 on £240,000 over nine months. Testing the exit first costs nothing and is what stops the bridge becoming a default rate loan.