Compare Bridging Loan Brokers

What is a Bridging Loan Broker and What Do They Do?

A bridging loan broker specialises in securing short-term bridging loans, acting as an intermediary between you (the borrower) and the lender. Typically, the broker is responsible for sourcing a suitable finance product for your circumstances, negotiating terms with the lender on your behalf, and steering the whole application and all parties to a successful completion.

Brokers will do a lot of the legwork, i.e. the paperwork, involved in securing the loan, dealing with all of the third parties involved (lender, valuer, both sets of lawyers) from start to finish. They will ensure compliance on both sides and maintain effective communication between you, the lender and third parties. 

Working with a broker that has experience in the bridging loan niche can make the process quicker and more efficient and help you get the best deal. They will be able to help you with varying types of bridging loans, for example, auction finance, fast bridging loans, land bridging, development exit and more.

How Much Does a Bridging Loan Broker Cost?

Broker fees are generally paid by the lender, not the borrower. 

Where a lender charges an arrangement fee, they will share some of that fee with the broker. Sometimes a bridging loan broker can charge a fee on top of this - commitment fees to prepare the application are commonplace - you should ask your intermediary about their fees at the outset.
 
Less common is the situation where lenders charge a smaller arrangement fee and give the broker no procurement fee. In this case, the broker will charge their own fees, which might typically be 1% of the loan amount. 

How to Find a Good Bridging Loan Broker

At Brickflow, we work with the best bridging loan brokers in the UK and we can connect you with your preferred intermediary. Alternatively, tell your own bridging loan broker about Brickflow so you can benefit from our live-market bridging loan search and seamless digital application process.

Some other things to look for when choosing a bridging loan intermediary:

• Experience and Expertise: For the most efficient loan process, working with a bridging loan broker who understands and knows the loan type will help.
• Research and Reviews: Look for brokers with positive client reviews and testimonials.
• Transparency: Brokers should always be upfront about their fees, including any fees you have to pay at loan completion and at the application stage. To find out more, take a look at our article that covers the true cost of a bridging loan.
• Accreditation: Brokers who are members of accredited bodies, such as FIBA (Financial Intermediary and Broker Association) or NACFB (National Association of Commercial Finance Brokers), must meet certain standards of professionalism and adhere to a strict code of conduct. 
• Are they a Brickflow partner: If a broker isn’t using Brickflow, then they’re not able to perform a full market search so are unlikely to find the best deal. Suggest Brickflow to your broker if you want to secure the best deal.