Bridging loan to finance a daughter’s property purchase In Essex

"3G families" are looking for creative solutions to finance multi-generational living: providing security for older parents and funding a younger generation into the property market.

The Scenario

A couple in their 70s were planning for their older-age care, wanting to give their daughter the deposit to buy a home they would all live in together.

The three lived in the house the parents owned for 48 years. Their daughter needed a deposit of £80K on a new build she was buying off-plan. But the parents could not sell their property while they were all living in it, so bridging was the solution.

The Solution

Nothing very flashy about this deal: we just managed to tick all the boxes, precisely what this family wanted.

They approached us with plenty of time before they needed the funds. They had an attractively low LTV of under 50%, so we were able to arrange bridging loan at a very competitive market rate, and achieved approval to draw down the funds agreed with a week to spare.

In a similar situation? Call our bridging loan team on 0117 959 5094 or use our bridging loan calculator to get an indicative quote