Bridging Loan For Couple To Move In With And Care For Elderly Mother In Hertfordshire

Area
Hertfordshire
Capital Raised
£870K

The Scenario

Our clients, a mother and her son and daughter in-law, wanted to sell their properties and move in together.

The married couple were concerned for the health of the mother, and to ensure they could care for her in the mother’s later years, they wanted to all move into a property.

The mother owned an unencumbered property in Middlesex worth £650,000, and the married couple had a property worth £450,000.

They wanted to purchase a large property in Herefordshire worth £870,000.

The clients needed to act quickly to secure the property and take it off the market. However, due to the age of the mother, traditional lenders would not provide a mortgage in the mother’s name.

Our Solution

We understood the concern that the couple had for their mother and acted as quickly as possible.

We were able to raise two bridging loans: a first charge was secured on the mother’s property for £450,000 and a second charge of £50,000 was raised on the married couple’s property.

In addition, we approached a private bank to secure a mortgage to source the remaining £325,000. Although the mother was 80 years old, we were able to get an interest-only mortgage for her.

As a result of our swift service and thorough negotiations, we were able raise the finance needed, and allow the three clients to purchase their desired family home.   

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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