Rocket Bridging: products, terms and eligibility

Rocket Bridging is a UK provider of bridging loans. The legal entity named on its site is Rocket Bridging Limited, company number 11251456. It is based in Manchester. Companies House shows the company was incorporated 2018.

Rocket Bridging Limited was incorporated in 2018 (company number 11251456). Its headquarters is at 29 John Dalton Street, Manchester, and it also has a presence in London. Its site describes a small team led by Managing Director Gemma Taylor and says it supports businesses across the UK, positioning itself as an alternative to larger lenders.

Everything on this page comes from what Rocket Bridging publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Rocket Bridging publishes 5 products for UK businesses. The table above gives the amounts and terms as it states them.

Auction finance

Bridging for residential and commercial property bought at auction, with a minimum loan of £25,000 and no stated maximum. It is secured on a first charge basis and loan-to-value varies by property type. The site refers to a 28-day completion requirement as the exit.

Residential bridging

Bridging against houses and apartments with a stated 75-80% loan-to-value, a minimum loan of £25,000 and no maximum. Loans are on a first charge basis, with development exit options available.

Commercial bridging

Bridging against industrial, retail and other commercial property of up to 70% loan-to-value based on the lower of a 180-day valuation or the purchase price. The minimum loan is £25,000 with no maximum and security is a first charge. Development exits are covered.

Second charge

A second charge behind an existing mortgage on residential or commercial property, with up to 65% loan-to-value on residential and up to 55% on commercial. The minimum loan is £25,000 with no maximum. The site says it does not offer second charges on land.

Refurbishment bridge

For residential property, with an initial advance of up to 75% of purchase or market value and, after completion, up to 70% of the uplifted value or 100% of works costs. The minimum loan is £25,000 with no maximum, secured on a first charge.

Rocket Bridging says its finance is used for:

• Buying property at auction
• Bridging a residential or commercial purchase
• Refurbishing residential property
• Raising a second charge against existing property
• Buying vacant cleared land
• Development exit

Sectors and business types it says it funds:

• Residential, buy-to-let, commercial and industrial property
• Individuals, partnerships, limited companies and LLPs borrowing for business purposes

What it says it does not fund:

• Personal (non-business) borrowing; property outside England, Scotland and Wales; second charges on land

Rocket Bridging publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Individuals, partnerships, limited companies and LLPs.
• Loans for business purposes only, not personal use.
• Independent valuation from an approved valuer required.
• Security can be residential, buy-to-let, commercial or industrial property.

Rocket Bridging describes its process like this:

1. Complete the online application from the Resources section.
2. Provide the standard documents listed there.
3. An independent valuation is carried out by an approved valuer.
4. Brokers can use the broker registration form.

Information it says it asks for:

• Independent valuation from an approved valuer (an existing valuation under three months old from an approved valuer may be accepted)
• Standard application documents from the Resources section

Every application is subject to status and the lender’s own criteria at the time.

A bridging loan is short-term borrowing secured on property, used to bridge a gap until a sale or longer-term finance completes. Interest is often rolled up or retained and repaid with the loan at the end, so the plan for repaying it, known as the exit, matters as much as the property.

Lenders lend up to a share of the property’s value and will want to see that exit. Bridging costs more than long-term borrowing, so it is worth understanding how lenders differ before you compare offers.

Points Rocket Bridging publishes that are worth knowing:

• Only unregulated residential bridging loans are offered.
• Says it encourages early repayment and facilities generally have no minimum term unless agreed.
• Says it lends across England, Scotland and Wales.
• Land acquisition loans are offered at 50-65% LTV on vacant, cleared land; no second charges on land.

Security and guarantees

Loans are secured by a first legal charge, or a second charge for second charge loans. The FAQ says early repayment is encouraged without penalties and that facilities typically have no minimum term unless negotiated.

The pages we checked do not carry a regulatory statement, so we describe none. Ask Rocket Bridging how it is regulated and check any claim on the FCA Register.

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of bridging loans with profiles here include Roma Finance, Sancus UK and Somo. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.