No-Recourse Bridging for HNW & Corporate Vehicles
Bridging Loans Without Personal Guarantee
Most bridging lenders require a personal guarantee from at least one director, even when the borrower is a limited company. For high-net-worth individuals, family offices, professional landlords with substantial portfolios, and corporate borrowers protecting personal assets, that's a deal-breaker. We offer no-PG bridging loans secured solely against the property — no personal guarantee, no charge over your home, no claim on assets outside the deal.
£500k – £15m
Loan Size
1 – 18 months
Typical Term
Up to 75% LTV
Typical LTV
Key Features
What We Offer
Security solely against the property
No personal guarantee, no charge over your home, no claim on assets outside the deal. The property is the only recourse.
Cleaner structure for trust + pension assets
SSAS, SIPP, family office, and trustee structures where personal guarantees aren't legally permitted — purpose-built for them.
Limited indemnities considered
On borderline deals, a capped limited indemnity from UBOs can bridge the gap — discuss case-by-case.
From £500,000
Underwriting is more involved than a standard deal so smaller amounts don't justify the cost. £500k+ from any sensible borrower vehicle.
1st charge only
No second-charge no-PG structures. The senior position protects the lack of personal recourse.
Standard property types
Residential, commercial, mixed-use, and semi-commercial accepted. Specialist underwriting for unusual assets.
Ideal For
Common Scenarios
High-net-worth individuals
Don't want personal exposure to a single deal. The asset stands on its own merits — and so does the loan against it.
Trustees and family offices
Legally cannot give personal guarantees on behalf of beneficiaries. No-PG bridging is the only structure that fits.
SSAS / SIPP property purchases
Pension-fund-backed property buys where guarantees aren't permitted. Tightly underwritten but routinely deliverable.
Professional landlord SPVs
Operating business shouldn't be exposed to deal-level risk. Each scheme funded as a separately-collateralised vehicle.
When To Use
When No-PG Bridging Makes Sense
- •High-net-worth individuals who don't want personal exposure to a single deal
- •Trustees and family offices who legally cannot give personal guarantees on behalf of beneficiaries
- •Pension-fund-backed SSAS or SIPP property purchases where guarantees aren't permitted
- •Professional landlord SPVs where the operating business shouldn't be exposed to deal-level risk
- •Corporate borrowers treating each scheme as a separately-funded vehicle
- •International borrowers whose assets are outside UK jurisdiction
The Trade-Offs
What Changes vs a Standard Bridge
Removing the personal guarantee shifts all the security onto the property. That changes a few things — none of them dealbreakers, but worth understanding upfront.
Lower LTVs
No-PG bridging typically caps at 75% rather than 85% — we need a wider equity margin to feel comfortable lending without recourse to the borrower personally.
Stronger valuation scrutiny
Senior RICS surveyor instructed on every deal. Larger transactions may require a desktop second opinion.
Tighter exit evidence
Because we can only enforce against the asset, we want crisp evidence of how the loan will be repaid — agreed sale, refinance offer in principle, or strong sales pipeline.
Slightly higher rate
The premium over a standard bridge with PG is typically 50–100 basis points. Reasonable price for the structural protection.
Minimum loan size
No-PG bridging from £500,000. The underwriting is more involved than a standard deal so smaller amounts don't justify the cost.
Slightly longer process
10–14 working days to completion vs 7 for a standard bridge with PG. The valuation and exit assessment carry more weight.
Eligible Borrowers
Who We Lend To (and Don't)
We DO lend to:
- ✓Limited companies and LLPs
- ✓SPVs (purpose-built or pre-existing)
- ✓SSAS and SIPP pension schemes
- ✓Trusts (UK and offshore considered)
- ✓Family investment companies
- ✓Plc and listed company subsidiaries
We don't lend no-PG to:
- ✗First-time directors with no track record
- ✗Newly-incorporated SPVs with no demonstrable parent strength
A standard bridge with PG is usually available in those cases — talk to us about the structure.
Product Comparison
NPG Bridging vs NPG Development Finance
One of the most common search queries that lands on this page is "no personal guarantee development finance" — reflecting a real expectation among developers that what's available on bridging should also be available on development. The reality is more nuanced. NPG bridging and NPG development finance look superficially similar but sit in very different parts of the market.
When NPG is available on bridging. No-personal-guarantee bridging is well-established and routinely deliverable for the right structure: limited company or SPV borrower, completed or near-completed property as security, conservative LTV (typically capped at 75% rather than the 85% available with PG), 1st-charge senior position only, and a clear exit. The lender's protection is the equity margin in the asset plus the priority charge. Loan size from £500k upwards. Property types: residential, commercial, mixed-use.
When NPG is available on development finance. Genuine no-PG development finance is rare. Most lenders treat development finance as a higher-risk product (construction risk, programme risk, sales risk all sit on top of property risk) and require personal recourse to one or more directors. The narrow set of lenders who do offer NPG development typically restrict it to: prestigious sponsor track record (20+ delivered schemes, sector reputation), loan-to-cost capped around 50-55%, LBV-led deals (where the land value alone covers a large fraction of the senior debt), or PLC and listed-subsidiary borrowers where corporate balance sheet provides the recourse.
Why the products have different NPG availability profiles. Bridging is a single-snapshot risk: the property is what it is at funding day, and the exit happens within 6–18 months. Development finance is a forward-looking risk: the lender funds against what the asset will be, with material construction and market risk in between. That forward risk is what personal guarantees normally absorb — remove them, and the lender needs significantly stronger alternative protections to take the same exposure.
For borrowers exploring this trade-off: standard bridging with NPG is broadly available; development finance with NPG is achievable but typically requires significant sponsor scale. Where development finance NPG isn't achievable, structuring development finance with PG and refinancing onto an NPG bridge at practical completion (development exit finance) is a common practical workaround.
Related Concept
Non-Status Bridging — What It Actually Means
"Non-status" bridging is a related concept that searchers often conflate with no-PG bridging — the two are connected but distinct.
Definition. Non-status means the lender doesn't require income evidence, employment history, or trading history as part of the underwrite. The deal is assessed almost entirely on the asset, the LTV, and the exit strategy. Crucially, non-status doesn't necessarily mean no personal guarantee — a non-status bridge can still require a PG; it just doesn't require proof of income to support it.
How non-status overlaps with NPG bridging. Both products exist for borrowers whose personal circumstances don't fit a conventional underwriting template. The overlap is large — many borrowers seeking non-status terms also want NPG protection, and a number of specialist lenders offer them as a combined product. But they can be unbundled: NPG with full income evidence (most common for HNW borrowers), or non-status with PG (most common for self-employed or trading-history-thin borrowers).
When non-status makes practical sense. Three typical fits: clean credit history with unverifiable income (cash-business owners, recent self-employment, international income); offshore borrowers whose income sits in non-UK jurisdictions and would be cumbersome to evidence; and SPV-first-deal scenarios where the SPV has no trading history but the principals do. Talk to us about which combination of structures fits your specific situation.
The Detail
Trade-offs of NPG Bridging
The "What Changes" section above covers the headline differences vs a standard PG-backed bridge. Here's the depth on each lever and what to budget for in negotiation:
Pricing premium. NPG bridging typically prices 0.10–0.20% per month above an equivalent PG-backed facility for the same borrower, asset, and LTV. On a 12-month £2m facility, that's roughly £24k–£48k of additional interest cost over the term — a structural premium for removing recourse, not a punitive markup. For HNW borrowers and corporate vehicles, that cost is normally well-justified by the asset protection.
LTV reduction. NPG-eligible LTVs typically cap at 70-75% rather than the 80-85% available with a personal guarantee. The wider equity margin compensates the lender for the loss of recourse. For borrowers genuinely needing maximum leverage, the PG route is usually unavoidable; for borrowers prioritising asset protection over LTV, the trade-off favours NPG.
Lender pool. The PG-backed bridging market in the UK has 50+ active specialist lenders. The genuine NPG market is narrower — typically 4-8 specialist lenders actively writing the product, plus a further handful who'll consider case-by-case. That narrower pool is part of why deal routing matters so much on NPG cases.
Security profile. Even where personal guarantees are removed, the lender's overall security architecture is normally strengthened in other ways: a debenture over the SPV granting fixed and floating charges over all SPV assets; director undertakings (procedural rather than financial — e.g. commitment to provide management info, not to grant further charges, not to take dividends until redemption); cross-collateralisation across two assets where one is borderline; or an account control agreement over the SPV's bank account. These structural protections don't reach personal assets but materially strengthen the lender's day-one position.
For most institutional borrowers and HNW individuals, the combined effect of the lower LTV, modest pricing premium, and stronger structural protections produces an acceptable risk-adjusted cost in exchange for the personal-asset protection that's the whole point of the structure.
Loan Parameters
Headline Numbers
Loan size
£500,000 – £15m
LTV
Up to 75% on day-one valuation
Term
1 – 18 months
Rates
From 1.15% pcm
Charge
1st charge only
Property types
Residential, commercial, mixed-use, semi-commercial
Common Questions
No-PG Bridging FAQ
Why do most lenders insist on a personal guarantee?
Can I move from a PG bridge to no-PG mid-term?
Will you lend no-PG to a brand-new SPV?
Is the underwriting process longer for no-PG bridging?
Can the SPV's ultimate beneficial owners give a softer indemnity instead?
Is no personal guarantee development finance available?
What is non-status bridging?
How much more does NPG bridging cost?
Real Results
Deals We've Structured
Ready to Discuss Your Project?
Get an indicative quote or arrange a call with a specialist. If we can respond immediately we will, otherwise within 2 hours during business hours.