What is re-bridging?
Re-bridging is taking out a new bridging loan to repay an existing one that is approaching the end of its term. It buys time when your original exit — a sale or refinance — hasn’t completed yet, and, done early, it lets you avoid the default and penalty interest that kick in when a bridge runs past term. Berkeley Credit re-bridges loans from £50,000 to £25,000,000 across England and Wales, for business and investment purposes, with a same-day decision.
Act before penalty interest, not after
This is the single most important point about re-bridging: timing. Once a bridge passes its term, most lenders apply a default rate — often around 2% per month, the equivalent of roughly 24% a year — and that compounds fast. Re-bridging proactively, while your current facility still has time on it, is almost always far cheaper than slipping into penalty interest and then refinancing under pressure. If your bridge has weeks rather than months left, talk to us now.
When re-bridging makes sense
- Your sale is progressing but won’t complete before the term ends
- Your planned refinance onto a term loan has been delayed
- Refurbishment or works have overrun and you need more time to exit
- Your current lender won’t extend, or will only extend at a punitive rate
- You’re already on a default rate and need to stop the bleeding
How we approach a re-bridge
We underwrite a re-bridge the way we underwrite any bridge: on the asset and a credible exit. The key question is what changed — why the original exit slipped, and what makes the new exit deliverable within the new term. A clear, realistic exit is what gets a re-bridge approved. We give an honest same-day decision: if the exit stacks up we’ll fund it, and if it doesn’t we’ll tell you straight rather than lend you into a deeper hole.
An honest answer the same day
Frequently asked questions
Can you refinance another lender’s bridging loan?
Yes. Re-bridging means repaying an existing bridge — including another lender’s — with a new facility, secured on the same asset, assessed on a credible exit within the new term.
Should I wait until my bridge defaults?
No. Re-bridging before term ends is almost always cheaper than letting the loan run into default interest. The earlier you act, the more options you have.
What do you need to approve a re-bridge?
A clear, realistic exit within the new term, and the detail of the existing loan. We underwrite the asset and the exit, with a same-day decision.
Is this regulated lending?
No. Berkeley Credit lends for business and investment purposes only, on property the borrower does not occupy, and is not fully FCA authorised. We don’t provide regulated advice.
Bridge running short on time? Talk to us today
If your bridging loan is approaching term, the cheapest move is to act now. Tell us about the existing facility and get an honest, same-day decision. Loans from £50,000 to £25,000,000 across England and Wales.
Berkeley Credit Limited is registered in England & Wales (Company No. 16111009) and with the FCA under the Money Laundering Regulations (No. 1029007); not fully FCA authorised; no regulated advice. All lending is for business and investment purposes only, on property the borrower does not occupy, and subject to valuation, legals and underwriting.