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By Pete Mugleston | Mortgage Advisor

Pete has been a mortgage advisor for over 10 years, and is regularly cited in both trade and national press.

Updated: 11th January 2021*

Sometimes regulated bridging loans are used to purchase houses quickly in order to complete quickly. The question below from Sam asks if a bad credit history will impact on getting a regulated bridging loan quickly.


Hi Pete,

I’m buying a residential property, have an agreement in principle in place and need to complete the transaction quickly. A sale has been agreed for the house I’m moving from but it won’t be finalised for another few months.

Meanwhile, there are other interested parties for the house I’m buying, so I’m considering taking out a regulated bridging loan to finalise my purchase quickly. Once my previous house has sold, I could use some of the proceeds to pay off the debt as I’d prefer not to add it to my new mortgage.

The only problem is that I have bad credit. I made a few late payments on my mortgage last year while I was between jobs and I’m concerned that this might stop me from qualifying for a bridging loan. Is this likely to be the case?

Thank you in advance,

Sam, Brighton


Hi Sam,

Thanks for your enquiry. I’ll try to be quick here as I know that timing is of the essence for you. The good news is that it’s absolutely possible to get a bridging loan if you have credit. In fact, the criteria for this is actually more flexible that it is for mortgages.

Bad credit is only really an issue for bridging finance lenders if it puts the exit strategy at risk, and a few late payments on your last mortgage shouldn’t impact that since your plan is to sell your current home and use some of the proceeds to settle the bridging loan.

In any case, late payments are generally considered one of the less severe forms of bad credit, so you shouldn’t be concerned about them scuppering your new mortgage application either.

Most bridging lenders would likely be comfortable with the amount of risk this deal carries since you have an offer on the table for your current home and a fall-back exit strategy, assuming that adding the funds to your mortgage is a potential plan B.

In the event that a lender turns you down, there are certain to be alternative options in the shape of specialist regulated bridging finance providers.

I hope it all goes well,


You can read more questions and answers about regulated bridging loans here:

Updated: 11th January 2021
OnlineMortgageAdvisor 2021 ©

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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