Do RBS offer bridging loans? Currently, and like most high street banks in the UK, Royal Bank of Scotland do not offer bridging finance.
If you’re seeking the best possible bridging loan quote, why not try our free broker service instead? With the whole of the market at our fingertips, we’re ideally placed to match your loan requirements with the right lender.
Compare market-leading bridging loan quotes with no obligation
- Loans from £20,000 to £30m plus
- Max 75% LTV first charge 70% second charge
- Secured on Residential and Commercial property
- Adverse credit considered
- Both Regulated and Non-Regulated Bridging Loans
The Bridging Loan Process with Royal Bank of Scotland
The Royal Bank of Scotland (RBS), like Nationwide, has also ceased offering bridging loans. However, the understanding of the process that was in place when RBS was providing these loans may be of interest. Here is an overview of the typical bridging loan process that was previously conducted by RBS:
1. Initial Enquiry and Consultation: Potential applicants would usually initiate the process by contacting the bank, either in person, via telephone, or through the RBS website. A consultation with a specialist would follow to discuss the needs and assess preliminary eligibility.
2. Application Submission: The formal application process would entail the submission of a detailed application form, including personal and financial information. The applicant would also need to provide supporting documents such as proof of income, identification, and details of the property against which the loan was to be secured.
3. Property Valuation: RBS would arrange for a professional valuation of the property to determine its market value and, consequently, the maximum loan amount that could be offered. The loan-to-value (LTV) ratio would be a key factor in this stage.
4. Credit Assessment and Underwriting: A comprehensive assessment of the applicant’s credit history and overall financial standing would be conducted. The bank’s underwriting team would meticulously evaluate the application to ensure alignment with RBS’s lending criteria.
5. Offer and Acceptance: Upon successful assessment, RBS would present a formal offer to the applicant, outlining the terms and conditions of the loan. The applicant would need to review, accept, and return the signed offer.
6. Legal Procedures: Legal procedures would follow, involving solicitors for both RBS and the applicant. This would include the preparation of the legal charge over the property and compliance with all relevant legal requirements.
7. Funds Disbursement: Once all legal formalities were completed, the loan funds would be disbursed to the applicant or directly to the seller if the funds were intended for a property purchase.
8. Repayment and Exit Strategy Implementation: Throughout the loan term, the borrower would be responsible for adhering to the repayment schedule. Implementation of the agreed-upon exit strategy would be essential, with regular communication between RBS and the borrower to ensure alignment.
Please note that this process is representative of the procedure when RBS was actively offering bridging loans. As they no longer provide this service, those seeking a bridging loan should consult with alternative providers or financial advisors to understand current lending processes and eligibility criteria.
Alternatives to an RBS Bridging Loan
As one of the UK’s leading specialist bridging loan brokers, we’re well-placed to match your specific situation with the right lender. It’s not simply about listing the lowest rates but finding a lender with the right experience, speed of working, and overall transparency to fit.
With whole of market access at our fingertips, we pride ourselves on delivering quotes and securing finance in the fastest possible speed.
Below is a list of top alternatives, each of which we can compare to RBS’s offerings in a no-obligation, detailed quote.
- Shawbrook: Recognized for its bespoke financial solutions, tailored to commercial and residential clients.
- Precise: Known for expedited loan processes, suitable for situations requiring quick financing.
- Lendinvest: Offers a technologically streamlined loan application and management experience.
- Octopus: Renowned for flexibility and quick decision-making across a range of lending options.
- UTB (United Trust Bank): Caters to a variety of complex financial needs with its extensive portfolio.
- MT Finance: Specializes in niche lending scenarios like auction finance and refurbishment loans.
- Spring Finance: Focuses on client-centric flexible loan terms, making them adaptable to specific requirements.
- West One: Offers an array of products with competitive interest rates, appealing to cost-conscious businesses.
- Glenhawk: Distinguished by its transparent fee structures and straightforward terms.
- ABC: An emerging lender with an emphasis on rapid service and flexibility.
- BFS (Bridging Finance Solutions): Provides both residential and commercial bridging loans with quick decision-making processes.
- Affirmative: Tailored for time-sensitive projects, offering rapid, hassle-free bridging loans.
- MS Lending: Combines competitive rates with high loan-to-value ratios, serving a broad spectrum of clients.
- Mercantile Trust: A reliable lender with a history of offering secure, stable financial products.
- Roma: Simplifies the application process with a streamlined approach, coupled with rapid fund disbursement.
- Somo: Ideal for those seeking larger loan amounts, catering specifically to such requirements.
- Catalyst: Offers a wide range of financial products, making them a versatile choice.
- Mint: Prides itself on personalized loan structures and quality client service.
- Octane: Known for their speed and efficiency in loan processing and fund deployment.
- Ampla Finance: Targeted at small to medium enterprises, offering loans tailored to meet the specific needs of growing businesses.
RBS Bridging Loan Calculator
While RBS (Royal Bank of Scotland) does not offer bridging loans, we are here to assist you in finding the right solution. Our team understands the urgency and unique circumstances that often surround the need for a bridging loan. As specialists in the field, we can provide you with an immediate quote tailored to your specific requirements. Our dedicated experts will take into account factors such as loan amount, duration, and your individual financial circumstances to provide you with a comprehensive and competitive quote. Contact us today to discuss your bridging loan needs and benefit from our expertise in finding the most suitable options for you.