Bridging Loan In Norfolk To Buy Retirement Flat

Area
Norfolk
Capital Raised
£100K

The Scenario

Our client, who had a number of assets and bonds, wanted to buy a retirement flat that was a part of a deceased estate.

Our client intended to liquidate his investments and bonds to pay for the flat; however, at the time of purchase, the client could not do so without incurring penalties from his bonds.

Unfortunately, the executor of the deceased’s estate wanted a quick sale and would not wait for the new tax year for the client to liquidate his bonds.

To complete the purchase, our client required £75K within a short space of time.

Our Solution

We explored every avenue of finance for our client. We concluded the best financial solution would be to arrange a bridging loan.

This is because the client would be able to liquidate his bonds within four weeks of the purchase; a short-term bridging loan was appropriate and saved the client a significant amount in penalty fees.

As some bridging lenders have minimum borrowing limits, we arranged a £100K as opposed to a £75K to save the client incurring any additional costs from lenders for borrowing below their minimum loan limit.

The client received the funds well within the deceased estate’s deadline and completed the purchase without delay.

Upon completion of his purchase, our client contacted us saying:

Clifton PF and in particular Sam O'Neill have done a great job in helping to arrange a bridging loan … at all times Sam and his expertise were on hand to help keep the whole process on track and within in a tight timescale…  Without his prompt help and competence I am sure that arranging the finance would, at best, have been delayed considerably and quite possibly it would have fallen through completely.  I would like to thank Clifton PF and in particular Sam O’Neill.

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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