Bridging loan on UK property to buy a house in Spain

Area
London
Capital Raised
£330K

The Scenario:

We were contacted by an independent financial adviser (IFA) from Spain acting for a UK-based client. The client had put down a deposit on a Spanish property and needed to raise the funds to complete the purchase.

Due to the complex nature of purchasing property in Spain, the client had been required to put down a significant deposit to secure the property. They were at risk of losing this deposit if they could not quickly raise the £330K they needed to complete the purchase of their new property.

The client had a property in London worth £635K which they ultimately intended to sell so they could move to Spain and live mortgage-free. Unfortunately, they could not realistically sell the London property fast enough to raise the money in time to complete on the Spanish property.

Our Solution:

We recommended securing a bridging loan on the client’s London property to raise the necessary funds. This would allow them to complete the Spanish property purchase and give them time to sell their London property to repay the bridging loan.

Being based in Spain, the client’s IFA was unable to arrange a bridging loan themselves on a UK property, so we did this on their and client’s behalf. We quickly arranged a 18 month bridging loan for the full £330K the client needed at an attractive 0.45% rate of interest with an 18 month loan term.

This allowed the client to complete the purchase of their new Spanish property and gave them time to sell their London property to repay the bridge while keeping their interest payments to a minimum.

To find out more about getting property finance for buying a house abroad, call us on 0117 959 5094 or complete our contact 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.

Contact Us