Information on mortgage bridging lenders and loans 2019-2022 - July 2022

Please find this information in Annex A below. 

Please find this information in Annex A below.

Please note that there is not a separate permission required to provide bridging finance. Firms that offer these types of products can do so under the ‘entering into a regulated mortgage contract’ permission (which is the permission required to offer first and second charge mortgages).

As some mortgage lenders also offer bridging products, we have in the table below provided information on the number of mortgage lender applications with the permission of ‘entering into a regulated mortgage contract’. In total, 21 lenders have applied for FCA authorisation to ‘enter into a regulated mortgage contract’ as a lender. Below is a breakdown of these applications by month.

As noted above, there is not a separate permission required to provide bridging finance. Therefore, we cannot establish whether a firm is a bridging finance lender. To be helpful, however, we have provided in the table below, information on the number of mortgage lender applications with the permission of ‘entering into a regulated mortgage contract’. In total, 12 lenders were authorised, no lenders were refused, 4 lenders withdrew their applications, and 5 applications are being considered.

We do not hold this information as this is not information which we record. By way of context, bridging loans fall under the scope of regulated mortgages and we record whether a firm has permission to sell mortgages.

To be helpful, however, over the 12-month period covering Q2 2021 to Q1 2022, a total of 2,493 bridging loans were sold, with sales distributed across 34 firms (Source: FCA Product Sales Data; PSD001). Please note that not all of these firms will be dedicated bridging specialists; some will be mainstream lenders who transact some bridging sales in addition to their main business.