How To Ensure Your Property Bridging Loan Is Approved

A home loan comes with a lot of terms that not every individual can meet without problems. Here’s where a bridging loan comes into play.

The property bridging loan features quick and easy lending criteria. All you need are collateral documents to become eligible for bridging loans. Other than that, the lender isn’t likely to look too closely at the credit score of the borrower. Let’s learn more about the Singapore bridging loan lending criteria and approval requirements.

Loan duration

The minimum loan duration for bridging loans is 24 hours, whereas the maximum can go up to 36 months. Unlike home loans, bridging loans can be repaid in a lump sum in a short period of time. Depending on the lending institution you choose, the duration of the loan tenure may vary. Usually, lenders allow 18 months for a borrower to repay the debt. However, the loan period may be extended up to 36 months for special cases.


As mentioned before, collateral is the security that the lenders take into consideration before loan approval. The collateral should be either single property or multiple properties, depending on the amount of the loan and value of the property. Once you have arranged the collateral, the lender will ask you to sign an agreement that gives the lender the right to forfeit your property in the event that you are unable to pay the loan. Though this happens rarely, it is possible that the lender may ask for added security in the form of your vehicles or other assets to secure the bridging loan.

You can use different types of properties to secure bridging loans. However, residential property should be a priority. You can use bungalows, flats, guesthouse, hotels, vacation home, parking space, workplace, commercial building, restaurants, pubs, land, garage, and other such properties to secure the bridging loan.

Age of applicant

The minimum age limit to qualify for a bridging loan is 18. Though some lending institutions have a maximum age limit, most of the lenders don’t consider the age of the applicants as long as the applicant is above 18.

Credit score

The good news is you can apply for bridging loans even if you have a bad credit history. Your credit score doesn’t matter as long as you have collateral. That’s the reason why the bridging loan is the most convenient option for individuals with bad credit history such as defaulters, bankruptees, etc.

Income proof

Bridging loan lenders don’t ask for income proof. As this loan doesn’t involve monthly payments, your lender has nothing to do with your monthly income.

Bridging loan services are provided by a large number of lending companies in the world. With that said, it is quite clear that the interest rate, fee, and even the lending criteria of bridging loans may differ from company to company.