Bridging loan for residential property in Kent

Area
Kent
Capital Raised
£265K

The Scenario:

A client in Kent had sold his current home and was planning to buy a new home for £730K. However, he needed to sell two other properties he owned to fund the purchase.

The sale of the two background properties was delayed as they were two flats above the client’s business premises which were part of a single freehold with the business premises. This meant they could not be sold separately until the freehold issue was resolved.

The client needed to temporarily borrow the money to purchase his new home to avoid missing out on the property, giving him time to sort out the freehold issue with the flats so they could be sold.

Our solution

We were able to move fast and arrange a £265k bridging loan over 12 months at an attractive rate of interest. This allowed the client to move forward with the purchase of his new residence.

Thanks to our experience and contacts, we were able to have the new property valued on the next working day after the client’s initial enquiry, then have an offer of a bridging loan in place within 10 working days. Completion was achieved a week later, meaning the whole process took less than 3 weeks.

The lender and the client’s solicitors were able to separate the freehold on the client’s business premises and the flats above, allowing the flats to be sold to fund repayment of the bridging loan.

Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.

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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