Bridging Loan to Avoid Losing Deposit

Area
Hampshire
Capital Raised
£885K

The Scenario:

The client was looking to sell his £1.1 million residential property and buy a £885K new build in Hampshire. The client had already exchanged contracts on the new build but unfortunately his residential property had not sold.
 
If the client was unable to complete the purchase within 30 days, he would lose his 10% deposit on the new build. The client needed to temporarily borrow money to secure his new home and avoid losing approximately £885K
 
Not only was there a tight deadline to complete the purchase but the client in question was out of the country for a number days on business. 

Our Solution:

However, we acted quickly and with the clock ticking we sourced finance and arranged the valuation of the property within ten days.
 
We were able to move fast and arrange a bridging loan at a leading market rate within just three weeks.
Upon returning to the country, the client was able to complete the transaction on his new property and move into his new home with the lowest amount of disruption.
 
Do you need a bridging loan to avoid losing a deposit? 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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