Rebridge of bridging loan not meeting exit deadline

Rebridge of bridging loan not meeting exit deadline

Area
Newcastle
Capital Raised
£100K

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%.

More about bridge finance

 

Alex Morris

Private Client Adviser

Bristol

0117 332 5061

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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

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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

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.

  Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

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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 

  Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

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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

 Book a free telephone consultation with me at a time to suit you, clifton private finance

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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

 Book a free telephone consultation with me at a time to suit you, clifton private finance

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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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