Section C·BridgingConsultation draft v0.1
Bridging exit evidence
A bridging file must show a credible exit, evidenced at the time of advice, and what happens to the client if that exit fails.
7 required items · 3 red flagsRequired evidence
Whether the loan is regulated (secured on a home the client or family occupies) or unregulated, and the reason for that classification
The primary exit: sale, refinance or other, with supporting evidence (agent valuation, refinance agreement in principle, development timetable)
A realistic timeline against the loan term, including a buffer
A fallback exit if the primary one fails
Total cost of the bridge at the planned term and at full term, including rolled or retained interest, exit fees and extension fees
For refinance exits: evidence the client is likely to qualify once the bridge ends
For sale exits: whether the asking price is supported, and the effect of a 10% lower sale price
Red flags
Exit depends on an event outside the client's control with no fallback
Term equals the expected exit date with no buffer
Unregulated classification on a property with any family occupation
The Specialist Lending File Standard is not legal or compliance advice and does not replace FCA rules. Information for professional intermediaries, not advice. Comment on the draft.