
Bridging loan on UK property to buy a house in Spain
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:
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
Sam Baker
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Finance Broker
Cardiff
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.
Book a free telephone consultation with me at a time to suit you
Jacob Phipps
Finance Broker
Bristol
(+44) 0117 959 5094
Are you looking for a similar type of property finance?
I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Mathew Phillips
Senior 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.
Book a free telephone consultation with me at a time to suit you
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.
Book a telephone consultation at a time that suits you:
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. Book a free telephone consultation with me at a time to suit you.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you
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.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214