Housing Bridging Loans

Bridging finance is a short-term loan that can help you with:

• Buying a new home before selling your current one (Trading Down).

• Purchasing and renovating property for rental or resale (Buy-to-Let Renovation).

• Securing property at auction (Auction Finance).

As these loans are short term (12 - 18 months), the overall cost may be more than a traditional mortgage.

Individual Trading Down

• Suitable for those looking to trade down a smaller or less expensive home.

• It is possible to use this option to trade up, however, you will need to discuss with your broker or ICS Mortgages Lending Manager.

• The option lets you borrow up to 70% loan to value* of your current home.

• Up to 4 applicants on each mortgage

• There is no minimum term.

• Maximum term is 12 - 18 months.

• Up to 12-month term for Accumulated Interest. This means that the interest will add up each month until you clear the loan. This sum will be added to your balance and will need to be cleared in full when you sell your current property.

• Up to 18-month term for Interest Only. This means that you will pay only the interest each month. The amount you borrowed will be outstanding and will be cleared cleared once you sell your current property.

• No additional penalty for partial or full repayment before expiry of term.

*Loan to value is the percentage of the property's purchase price compared to the loan size you are seeking to purchase that property

• Arrangement fee of 1% or loan amount.

• Minimum loan size €100,000

• Maximum loan size €1.5m.

• Minimum property value €145,000 with no maximum property value.

• Minimum age of applicants 21 years

• Maximum age on maturity 75 years.

• Minimum annual income €40,000 (per single/joint application, this can be combined).

• We will lend for properties in Dublin (and surrounding counties Kildare, Wicklow, Meath), Galway, Cork, Limerick, Dundalk, Drogheda, Waterford City and for properties in other urban centres with population greater than 5,000 people or more.

Buy To Let Renovation & Auction

• Up to 70% Loan to value of the property you are purchasing.

• Up to 4 applicants on each mortgage

• There is no minimum term.

• Available to individuals and companies via a Special purpose vehicle*.

• Available to Professional landlords (owning a minimum of 2 investment properties).

• Arrangement fee 1% of loan amount

• 3rd party legal fees will apply.

• Maximum term is 12 - 18 months.

• Up to 12-month term for Accumulated Interest. This means that the interest will add up each month until you clear the loan. This sum will be added to your balance and will need to be cleared in full when you sell your current property.

• Up to 18-month term for Interest Only. This means that you will pay only the interest each month. The amount you borrowed will be outstanding and will be cleared cleared once you sell your current property.

• No additional penalty for partial or full repayment before expiry of term.

• An Individual/Company may be able to borrow up to: €4m - if the weighted average LTV for all loans is < 70% and between €4 million and €7 million is capped at an LTV of 60%. Maximum exposure of 7million.

• Minimum loan size €100,000

• Maximum loan size €1.5m.

• Minimum age of applicants 21 years, maximum age on maturity 75 years.

• Minimum annual income €40,000 (per single/joint application, this can be combined).

• We will lend for properties in Dublin (and surrounding counties Kildare, Wicklow, Meath), Galway, Cork, Limerick, Dundalk, Drogheda, Waterford City and for properties in other urban centres with population greater than 5,000 people or more.

*A Special Purpose Vehicle (SPV) is a limited company set up for the sole purpose of purchasing and holding property for investment

Fees and Charges

Terms of business