# Are Bridging Loans Secured on Leasehold Commercial Units? Insights article · United Kingdom · Published 2026-10-29 > You can put a first charge over a long leasehold office, shop or warehouse, but only if the freeholder will grant a licence to charge. Here is the security package, what delays drawdown, and when a bridge is the wrong tool. You hold, or you are buying, a long leasehold office, shop or warehouse. Completion is dated. Then the Report on Title flags a charging restriction: no mortgage without the freeholder's written consent. That is usually when people start asking whether bridging loans are secured, and on what. They are not asking for a textbook. They need to know if a first legal charge can be granted in time. Credit can often be agreed within a day. Drawdown still waits on the landlord. On commercial leasehold stock, that gap is the deal. > **Why this matters:** If the lease restricts charging, the freeholder's licence, not the term sheet, will usually set your completion date. ## Highlights - UK bridging loans are secured: typically a first legal charge over the property, often with a debenture over the borrowing SPV. - A long leasehold commercial unit can be charged, but many leases first require the freeholder's licence to charge. - That consent, not the credit decision, is what often sets the drawdown date. - Indicative facilities: £1M–£100M, up to 75% LTV, 3–24 months, indicative term sheet usually within 24 hours, high-net-worth individuals, SPVs and corporates. - If the charge cannot be granted, or the exit is not credible, a bridge is the wrong tool. - [Talk to a specialist](https://www.rikvincapital.com/uk/contact-us) ## What a lender actually takes as security Are bridging loans secured? In private credit they are. Rikvin Capital is a direct private lender, not a bank. We lend to high-net-worth individuals, SPVs and corporates against the asset and a credible exit, not against salary. On a commercial leasehold the core security is a first legal charge over the lease, registered at [HM Land Registry](https://www.gov.uk/government/organisations/land-registry). Tenanted buildings usually add an assignment of rents. Where the borrower is an SPV, a debenture over the company sits behind that. Vacant or part-let units are considered case by case, subject to terms; where one is agreed, the rent assignment simply drops out until a tenant is in. That package is what [commercial bridging loans](https://www.rikvincapital.com/uk/bridging-loans/commercial-bridging-loan-uk) are built on. None of it works if the lease will not let you grant the charge. ## When the lease bars charging without consent Full repairing and insuring leases often say you cannot charge the property without the landlord's prior written consent, not to be unreasonably withheld. Some older headleases are harsher. A few forbid charging altogether. Until that licence is issued, you cannot complete the first charge. Solicitors will not let the facility draw. This is a title problem, not a rate problem. The freeholder's solicitor will want the form of charge, sometimes a deed of priority, and a fee. Budget time for that correspondence. Unreasonable withholding is a legal argument, not a drawdown plan. Do not rely on it to hit a dated completion. Unexpired term matters as well. A bridge of 3–24 months still needs enough residue beyond the exit. A short remaining term can undermine the security even when the freeholder is willing. That is why [the lending process](https://www.rikvincapital.com/uk/process) starts with the lease, not with a bank-style Decision in Principle. ## Workarounds when a deadline will not wait Start the licence to charge the day heads of terms are agreed. Run it in parallel with valuation, KYC and source of funds. If a previous lender already obtained consent, ask whether it can be reused or restated. A 28-day auction completion leaves almost no slack. If the lease needs a fresh licence, treat that as a bid risk before you raise a paddle, not after. [UK auction bridging](https://www.rikvincapital.com/uk/bridging-loans/auction-bridging-loans) only works when the charge is grantable inside that window. Share charges and debentures can be documented while the landlord's solicitor works. They do not replace a first charge over the unit if that is what the term sheet requires. An unsecured loan is not the fallback; that is not what this desk does. If the freeholder is simply slow, [see the full range of UK bridging products](https://www.rikvincapital.com/uk/bridging-loans) and whether the timetable still fits. ![UK industrial warehouse exterior on a long commercial lease](https://media.rikvincapital.com/rikvin-media/unsplash-1789265342546-8289.jpg) *Freeholder consent to charge often dictates drawdown even after the term sheet is issued.* ## When a bridge is the wrong tool A bridge is the right tool when the asset will take a first charge and the exit is dated. We issue an indicative term sheet within 24 hours, and drawdown typically runs about two weeks. It is the wrong tool when the lease prohibits charging, the freeholder will not consent, the residue is too short, or there is no sale, refinance or development exit inside the tenor. The main risk is simple. You spend weeks on legal work and still cannot grant the charge, so the facility never draws and the purchase or refinance fails. The second risk is an exit that slips past a 3–24 month term. Related: [bridging finance for a London investment property](https://www.rikvincapital.com/uk/case-study/bridging-finance-for-a-london-investment-property). Rikvin has funded 300+ deals since 2018, including first charges over hotels, investment stock and mixed commercial buildings. That does not mean every leasehold unit will qualify. Vacant shops and offices are considered case by case, subject to terms, and only where title and exit stand up; [vacant commercial buyers in London](https://www.rikvincapital.com/uk/insights/vacant-commercial-london-bridging-loan) face the same consent clock. The fact that bridging loans are secured is not the same as the charge being grantable this week. ## Frequently asked questions ### Are bridging loans secured on leasehold commercial units? Yes. A long leasehold can be charged once any licence to charge is in place. Lenders typically take a first legal charge, often plus a debenture over the SPV. Terms are indicative and subject to valuation and due diligence. A prohibition in the lease, or a freeholder who will not consent, stops the charge. ### How long does landlord consent to charge take? It depends on the freeholder, not on the lender. Some licences arrive within a week; institutional landlords and managing agents often take several weeks. Start the application when heads of terms are agreed, in parallel with valuation. A 24-hour term sheet does not compress landlord time. ### Can you complete if the freeholder refuses consent? Not on a first charge over that leasehold. If the lease requires a licence to charge and it is refused, the security the facility is built on cannot be granted. That is why the lease is read early. Alternative structures are deal-specific and still subject to due diligence. ### Does a debenture over the SPV replace the property charge? No. A debenture supports the package. It does not replace a first legal charge over the asset when that is what the term sheet requires. Share charges can help in parallel. They rarely solve a lease that forbids charging the property itself. All of this is indicative until due diligence is done. A first legal charge you cannot grant is not security. Read the charging covenant before you agree the completion date. --- Markdown version of https://www.rikvincapital.com/uk/insights/are-bridging-loans-secured-leasehold-commercial — provided by Rikvin Capital for AI agents. Site index: https://www.rikvincapital.com/llms.txt