Large Bridging Loan For Grade II Listed Property

Large Bridging Loan For Grade II Listed London Property

Area
London
Capital Raised
£1.1m

The London property market is notoriously competitive. So how can you set yourself apart from cash buyers and opportunistic property investors? The ability to act quickly can make all the difference.

Our team recently assisted clients in purchasing their ideal London retirement property while simultaneously managing the sale of their existing home, all while competing against other hungry bidders.

The Scenario

Our clients were looking to downsize and retire, having found their perfect property just outside London. However, they faced significant time pressure due to high interest from other potential buyers.

  • The property was a Grade II listed, detached 3-bedroom house
  • With a purchase price of £1.05 million
  • They needed to sell their Grade II listed, detached 7-bedroom house (valued at £2.85m with a £410,000 outstanding mortgage) to fund the purchase
  • And with the sale not at all likely to complete in time, they were looking to use a bridging loan to bridge the gap in funding and secure the property

The main challenges here were:

  • Tight timeframe: Completion was required within 4-6 weeks of offer acceptance
  • Cash buyer requirement: Multiple interested parties necessitated a cash purchase (or the equivalent through a bridging loan)
  • Listed properties: Both the purchase and sale properties were Grade II listed, adding complexity
  • High-value transaction: The substantial loan amount required would make certain lenders more cautious
  • And second charge consent would be needed for the existing property to secure a bridging loan against it while it already held an outstanding mortgage

The Solution

We approached three lenders to ensure the best balance of speed and rate, and compared their propositions with the client so they could make an informed and rounded decision.

Upon choosing a lender, we leveraged their vendor-provided legal searches to expedite the process – something that not all banks provide and was factored into our selection process.

We also knew this lender could conduct an online valuation for the purchase property despite its high value (over £1m), getting around more potential logistical delays in the form of an in-person valuation.

In fact, the case completed with just 2 days to spare before the vendor's deadline, showing that without bridging finance – and without the help of a dedicated and experienced broker – this property would likely have slipped away.

While the primary value of our service is often the general advice we can provide during the process, the negotiation of lower rates, or the handling of the paperwork, sometimes the speed and efficiency of our work trumps all – particularly when lifelong future homes are hanging in the balance.

The difference between securing and missing out on a property such as this can literally be life-changing, and this is where a best-in-class bridging service is so important.

Simon Mullins

Finance Broker CeMAP

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Paige Dumpleton

Finance Broker CeMAP

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Louis Levine

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Bristol

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Book a free telephone consultation with one of our bridging specialists today and see how we can help you.

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Fergus Allen

Senior Finance Broker

Cardiff

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.

Book a free telephone consultation with me at a time to suit you.

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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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. customDatabaseField-8455

Mathew Phillips

Senior 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.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

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.

Book a telephone consultation at a time that suits you.

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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. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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