Bridging Loan To Downsize and Move Closer To Family

The Scenario:

A retired couple wanted to downsize and move house to live closer to their family in Wales. They put their residential property on the market and search for their next home. They found an ideal house in Newport within a suitable distance of their family.

Unfortunately, the couple was unable to raise funds through traditional high-street lenders. Their existing home had not yet been sold, and they needed additional finance to secure their perfect home near their family.

The Solution:

We had to act quickly as the couple feared losing their dream home.

A bridging loan was secured against both properties, enabling the couple to complete the purchase of their new home, without having to wait for the sale of their existing property.

Once the client sold their existing home, they could pay off the bridging loan.

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