Fast bridge finance to buy Spanish holiday home
When they’ve seen the holiday property they want to buy, clients usually have to act quickly. Bridging finance is the mechanism which can secure a purchase until a property sale can be completed.
The Scenario
Our clients each owned their own properties in Devon – he in Barnstaple, she in Westward Ho! But now they’d seen the perfect holiday home they wanted to buy together in Spain. Back home from putting down their deposit in Murcia they had to get one of their properties sold – and rápidamente.
They needed to get the balance to be paid into an account in spain in 10 day’s time.
The Solution
Our first solution hit the buffers when the lender’s inspection of the Barnstaple property revealed that it was only single-skin construction: a build type they’re not prepared to lend on.
Having lost a valuable couple of days, we focused on the Westward Ho! property, and approached a lender who does quick online valuations.
Job done: deal completed in eight days, leaving time for the foreign exchange transfer to go through.
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.
Luther Yeates
Finance Broker
Bristol
0117 244 5561
Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.
James Palmer
Senior Associate
London
0203 900 4322
Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Have a similar situation? I specialise in bridging finance and can provide creative solutions for your property funding requirements.
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.
Adam Arnott
Associate Director
Bristol
0117 205 0214
Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.