Bridging Loan To Purchase Family House In Surrey

The Scenario:

This case study involved a family who needed to raise finance to secure their new family home.

Trying to manage the sale of a current home while purchasing a new one can present a number of problems. A delay in selling an existing property can result in a dream home being lost.

The clients had recently returned to the UK from living and working as expats in Asia.

Getting a mortgage in the short time they had was not a feasible option.

Our Solution:

Bridging finance provides the flexibility and peace of mind that cash-buyers enjoy. It places the buyer in the financial position to complete on the purchase of their new home, while their current property sells.

Due to our strong relationship with a number of lenders we were able to secure a bridging loan to cover the purchase price, minimising disruption for the client.

The family were able to show the seller they had the financial means to buy the property and the vendor was happy to proceed.

The property sale completed within 4 weeks allowing the family to move in.

The bridging loan was paid off a few months later once a mortgage was put in place with a high street lender.