
Rebridge of bridging loan not meeting exit deadline
Approaching the end of your bridging finance loan term can be extremely stressful if you haven’t managed to execute your exit strategy. Don’t panic: we’re usually able to arrange re-bridging for you, quickly and affordably.
The Scenario
Our client had come to us for a minimal £50K bridging loan to refurbish her mortgage-free older-style 5-bedroom detached house before selling it. The funds were also to pay for basic building works on an extension and renovations on the flat above a pub she owns that she was intending to move into.
Twelve months later, the house had failed to find a buyer, and living in a partly-renovated flat had lost its appeal.
She was looking for a re-bridge to give herself time to find a buyer for the house, and sufficient additional funding to pay for the pub-apartment to be completed.
The Solution
The 5-bed house now has a new bathroom and kitchen and new tiling and carpets throughout, including in its “granny annexe”. Offers had been made, but for various reasons they had fallen through.
With a valuation of £225K the feeling was not that the property was overpriced but that it just needed more time to find a buyer to recoup its value.
Meanwhile, in the flat over the pub the required works included building the extension, a loft conversion, fitting a new kitchen and bathroom and decoration throughout. An additional £50K of funding would allow her to get it completed.
Going to a new lender for a larger loan amount allowed us to access an offer that hadn’t previously been available, and the client’s loan costs were reduced from 0.54% to 0.49%.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
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
Fergus Allen
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
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
Jack Spillane
Finance Broker
Bristol
0117 959 5094
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
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.
Book a telephone consultation at a time that suits you:
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.
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
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.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214