CYBG pilots bridging offering

It launched the pilot at the beginning of February and is being supported by a specific team specialising in bridging loans.

CYBG hopes to use this pilot phase to help shape its proposition ahead of any expansion to the wider market.

It hopes to launch bridging finance to all brokers later this year.

A spokesperson for CYBG said: “We are working with a small selection of broker partners to offer bridging loans, which for some customers we believe are an essential form of finance to support the homebuying process.

“We are initially focused on conventional open, closed and light refurbishment bridging options.

“We believe the market is currently underserved for these types of loans and are confident our offer will be attractive to homeowners seeking bridging finance.

“We hope to be able to widen this to all brokers later this year and will use this initial smaller-scale offering with select brokers to help shape our proposition ahead of any expansion to the wider market.”