Bridging Loan for Lifestyle Move to Cornwall Dream Home

Area
Bodmin
Capital Raised
£450K

The Scenario

Our clients, a couple in their 50s, were quitting the London rat race and heading for the good life in Cornwall. One daughter was just finishing high school, the other was already off to university.

The husband had resigned his job as head of IT for a major credit agency in London, and had taken a 30K pay cut to work for an IT company based in Bodmin. He was already there, living in rented accommodation, while his wife was trying to get their 4-bed Victorian semi in Bedfordshire sold, at the same time as house-hunting in the Bodmin area.

She found the home that was going to clinch the move for her: a 5-bed house in Bodmin which they could buy for £405K. With their Bedfordshire home valued at £545K they looked to have a nice small mortgage for their new lifestyle – but only if they could act quickly.

The Solution

We arranged a blended charge bridging loan for them, with a 1st-charge mortgage on the property they were buying, and a 2nd charge on the home they were selling.

We raised £450K to cover the Bodmin house purchase and the double stamp duty they would owe because owning two properties, plus an amount to consolidate some debt until their Bedfordshire house was sold. They were delighted to be able to complete the deal.

We would like to thank Sam from Clifton Finance who helped and supported us through our complex move to Cornwall. He advised and helped us secure a bridging mortgage, which enabled us to be in our new home now. Many thanks again from the Samm Family

 

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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