Bridging Loan - Moving House

Area
London
Capital Raised
£196K

The Scenario:

This case study involves a lady who wanted to move nearer to one of her children due to being recently widowed. She had found a new, smaller property and wanted to move as soon as possible.

Trying to manage the sale of a current home while also purchasing a new one is stressful, even more so for mature homebuyers.

Our Solution:

Bridging Finance can be particularly useful in this kind of case as it grants the borrower flexibility. By being in the financial position to purchase a new home immediately, there is no fear of losing a perfect home to another buyer. Something which can’t normally be achieved unless the sale of the previous property has gone through.

Additionally, the flexibility of bridging finance in this situation means that the borrower is able to move in to their new home when they need to. They aren’t tied in to a situation where they have to move out of their old home or move in to their new one by a certain date.

While this lady had already found her new property, she had not yet put her old home up for sale but realistically she needed to buy the new property before selling the 3 bedroom detached house which she then lived in.

By using bridging finance, held on both properties, she was able to borrow £196K for 9 months which meant she could proceed with the lowest amount of disruption.

Are you in a similar position?
To investigate your options call our team on 0203 900 4322 or complete our callback form: 

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

James Palmer

Senior Associate

London

0203 900 4322

Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Have a similar situation? I specialize in bridging finance and can provide creative solutions for your property funding requirements.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.

Adam Arnott

Senior Associate

Bristol

0117 205 0214

Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.

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