Bridging loan schedule of works
Bridging and refurbishment lenders release works funds in stages against a schedule of works and a drawdown plan. Estimate your finance cost below, then build the schedule with phased drawdowns tied to each stage for monitoring-surveyor sign-off.
What a bridging lender needs
- 1A costed, phased schedule
Itemised works by trade, split materials/labour, grouped into phases with subtotals — so the lender can see what each drawdown pays for.
- 2A drawdown schedule
Staged releases tied to phase completion (e.g. 30% / 30% / 25% / 15%), each signed off by the monitoring surveyor before funds are released.
- 3A programme of works
Realistic durations per phase, so the lender can set a facility term with headroom over your programme.
- 4An appraisal with exit
Day-1 LTV, LTGDV, the gross facility and a credible exit (sale or refinance) showing the loan will be repaid.
The schedule of works and the drawdown schedule are two sides of the same document for a bridging lender. The schedule says what the money buys; the drawdown says when it’s released and what the surveyor signs off to release it. ScopeWise generates both from the same data and ties each tranche to a phase subtotal, so the package you send your broker is already in the shape the lender expects.
Typical bridging finance terms (indicative)
| Item | Typical range |
|---|---|
| Monthly interest rate | 0.75%–1.1% per month |
| Annualised | ~9%–13% pa |
| Arrangement fee | 1.5%–2% of facility |
| Exit fee | 0%–2% (some lenders nil) |
| Day-1 LTV (purchase) | Up to ~70–75% |
| Max LTGDV | Often ~70–75% |
| Term | Typically 6–18 months |
Indicative market ranges — your rate depends on experience, asset and exit. Confirm with a broker.
Frequently asked questions
How does a bridging loan fund refurbishment works?+
The lender usually advances a percentage of the purchase on day one, then funds the works in arrears via staged drawdowns. A monitoring surveyor inspects at each stage and authorises the next tranche against the schedule of works.
How is bridging interest calculated?+
Interest is charged monthly on the drawn balance and is often retained or rolled up (added to the loan) rather than serviced. As a simple estimate, multiply the facility by the monthly rate by the number of months — the calculator above does this, plus arrangement and exit fees.
What is LTGDV?+
Loan to Gross Development Value — the total facility (day-1 advance plus works) divided by the projected end value (GDV). Development-style bridging lenders cap LTGDV (often around 70–75%) as a measure of headroom on exit.
What's the difference between day-1 and total facility?+
The day-1 advance funds the purchase; the total (gross) facility also includes the works drawn in stages. Lenders quote both — your cash requirement is the purchase and costs not covered by the day-1 advance.
Related tools & guides
Want to know how these figures are calculated? See our cost methodology.
Cost figures shown are indicative estimates, not quotations. You are responsible for verifying all costs (obtain contractor quotes) and any figures submitted to a lender. ScopeWise is a documentation tool, not financial, tax, structural or planning advice. HMO compliance prompts are guidance only — confirm requirements with your local council, as standards and licensing vary by authority.