No-drama downsize with bridging finance to pay for renovations

Area
Oxfordshire
Capital Raised
£200K

This is the perfect downsize scenario: selling the big house to move close to family (right next door to family, as it happens). And avoiding all of the discomfort of living amongst necessary building works, or camping in rented accommodation, by using bridge finance to pay for renovations before moving in.

The Scenario

Our clients are a retired couple, downsizing from their £800K 5-bedroom family home in the unforgettably named village of Kingston Bagpuize in Oxfordshire, to move eight miles away to a house they’d bought next door to their daughter.

Properties right-next-door don’t come on the market often, so when this opportunity came up they bought it – even though the property needed extensive refurbishment works.

Our clients didn’t want to live in a building site while the building works were underway, nor did they want to have to sell up and move into rented accommodation to pay for the renovations.

The Solution

Bridging finance was the obvious solution.

If we’d had to secure it against the property needing heavy refurbishment the rate would have been fairly steep.

Instead we were able to secure it against the loved-and-cared-for family home, which was going on the market now. We secured a rate of 0.47%  that was below even the best-available across the market.

The money was in our clients’ bank five weeks after we pinned down the deal for them. (They could have had the funds sooner, but didn’t want to access them until their builders were absolutely ready to go…)

Use our bridging loan calculator to get an indicative quote »

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.

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