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Mortgages Brokers vs Bridging Specialists


Brokers for bridging and mortgages, how do they differ?


To compare mortgage brokers to bridging specialists is a little like comparing apples to oranges. They both exist for a reason and have their benefits, but are nonetheless very different entities.

The popularity of bridging finance continues to grow at its fastest ever pace.  Nevertheless, the vast majority of borrowers in need of sizeable sums for property purchases turn instinctively to mortgage brokers. The problem being that the vast majority of mortgage brokers in the UK lack the knowledge and experience to advise on alternative funding solutions.

In fact, it is estimated that less than 20% of mortgage brokers in the UK have any idea what bridging finance is or its intended applications. Let alone the expertise required to advise on bridging finance options.

The Traditional Mortgage Broker

As the name suggests, a traditional mortgage broker is a (usually) independent adviser for current and prospective mortgage borrowers. They take the requirements and preferences of the applicant, consider their available budget and scour the market for appropriate mortgage deals. Some work exclusively with major High Street banks, while others also consider loans from specialist lenders across the UK.

However, no allowance is typically made for the consideration of alternative funding solutions. Dozens of conventional mortgage and remortgage products may be analysed, evaluated and presented to the client, but that’s all. If an entirely different funding solution (such as a bridging loan) represented a better option for the client, a typical mortgage broker may be unable to advise on it accordingly.

Bridging Specialists

In a similar vein, alternative funding specialists work closely with major High Street names and independent lenders across the UK. They’re also able to offer comprehensive support and objective advice on all aspects of mortgage borrowing.

The difference being that a bridging specialist can also provide access to an extensive range of alternative funding solutions. From traditional bridging loans and development finance to a variety of accessible and flexible secured borrowing options, there’s far more on the table than traditional mortgages alone.

As a result, the borrower stands a much better chance of finding the perfect funding solution to suit their requirements and budget.

Accessible and Affordable

The market for mortgages in the UK has traditionally been somewhat restrictive. In a working example, an individual with a poor credit score or no recent proof of income may be counted out of the running – irrespective of their current financial status.

One of the biggest differences with bridging loans (and other alternative funding solutions) is the consideration of all cases by way of individual merit. So even those who may have been turned down by multiple major High Street names could still access the financial support they need, with the help of an independent specialist broker.

For more information on the potential advantages of working with an established bridging specialist, contact UK Property Finance today for an obligation-free consultation.

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The advice and processing on all financial products introduced via this website will be handled by UK Property Finance Ltd, which is authorised by The Financial Conduct Authority (FCA) no 667602. The FCA do not regulate all mortgages such as Buy to Let and Commercial. Think Carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

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