Yes, if you’re self-employed it’s possible for you to get a bridging loan. With more than 5 million people self-employed in the U.K., many of which have borrowing needs, for lenders it makes sense to accommodate to this group.

The affordability rules for bridging loans aren’t as strict as they are for mortgages, however, self-employed people applying for a bridging loan will have to prove their financial status with business accounts, as well as meeting other eligibility criteria in order to be approved for this type of loan.


Should I Get a Bridging Loan if I’m Self-Employed?

Bridging loans can be a great method of borrowing for those who are self-employed, useful for a variety of different funding requirements.

For example, if you’re self-employed and investing in redeveloping a property that was bought at auction and need to borrow a loan to help purchase the property within the allotted 28-day period.




Mortgages may take too long to be approved in time for this, whereas a bridging loan can come through in time to meet the purchase deadline. The bridging loan is then repaid once it’s “bridged” the financial gap.

Bridging loans are a short-term type of finance, and therefore not intended for long-term use, but rather for temporary issues with cash flow.


Will I Need Proof of Income for a Bridging Loan?

For self-employed applicants, lenders will typically need to see proof of financial status. This can be shown through business accounts, typically over the course of two years, however certain lenders may only need to review one year of such accounts if one year is all that’s available.

In addition to this, the lender might request to see copies of the applicant’s bank statements.

With bridging loans, lenders will be focused more so on the applicant’s exit strategy rather than their financial status. This exit strategy can therefore be more important for a self-employed person’s application than their income.

So long as the applicant meets all the necessary eligibility criteria, even when self-employed, they could be eligible for a bridging loan.


What’s the Eligibility Criteria?

Eligibility criteria for a bridging loan can include:

  • Minimum borrowing amount of £50,000
  • Available in U.K., Scotland and Wales
  • Must be over 18
  • Available for residential, commercial, mixed properties and HMOs
  • Must have an exit strategy

When borrowing money in any form, a general requirement that can be expected is for the applicant to have a good credit score. However, with bridging finance this isn’t always the case.




At Octagon Capital, we’re willing to take a view on applicants with adverse credit histories, and also those with no proof of income. These types of bridging loans are often referred to as “non status bridging loans” and offer flexibility for those who have struggled to access finance before for these very reasons.


How Much Does a Bridging Loan Cost?

With bridging loans, you can expect to see typical monthly fees of anything from 0.5% to 1.5%.

Bridging loans are priced monthly rather than annually, due to the fact that they’re only intended for temporary, short-term use.

The typical fees you could see when borrowing a bridging loan include the following:

  • Interest rate
  • Legal fees
  • Valuation fees
  • Arrangement fee
  • Broker fees
  • Exit fees

The exact fees will depend on your unique case – e.g., the property and the opportunity offered with it.

You can choose to pay the interest each month (the interest being charged per month), or “roll up” the repayments and pay the full amount due at the end of the loan term.

The precise details regarding the cost of your loan and the fees charged will vary depending on the lender you go with, your circumstances and therefore the application you submit.


Where Can I Get a Bridging Loan When Self-Employed

Start your bridging loan application today with Octagon Capital. Simply make an initial enquiry via the form on this page, send an email to, or call us on 0333 414 1491.

We offer non status bridging loans and are willing to consider those with no proof of income as well as those with adverse credit histories.