Fast Bridging Loan For Couple In Their 80's Moving & Downsizing Home To Yorkshire
Scenario:
We were approached by a couple in their eighties for a bridging loan to purchase a property in Yorkshire as they were relocating from Romford, Essex.
The clients needed to complete the transaction quickly as they wanted to secure their desired new home, move and settle in in their new property without the stresses of selling their property and they wanted the time to obtain the best price. The property was also being purchased from probate.
The clients had decided to relocate to the north of England, as they wanted to spend more time exploring the Yorkshire dales as the enjoyed keeping fit.
The Purchase price of the new home in Lancashire was £450,000. The existing property that was being used as additional security was valued at £650,000 with no existing mortgage. They had no cash deposit and wanted to use the equity from the existing property to borrow 100% of funds to complete the purchase.
Our solution:
We arranged a loan for £450,000 with one of the leading regulated bridging lenders at a rate of 0.53% per month over a 12-month term.
This has given our clients the opportunity to sell their existing property which is on the market, while they settle into their new property and get the best price possible for the property they are selling.
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.