
Short term finance for elderly client looking to downsize in retirement to Somerset
The scenario
Our client was an elderly man, whose son was representing him and being his point of contact to help him during this process. He was looking to downsize into a new retirement flat, which he had already found.
He had a property on the market, but with buyers falling through, and his eyes already set on a property, he was running out of time. He needed short-term funding to help him buy his dream flat whilst his other property was waiting to be sold.
Due to our client’s age, traditional banks were not willing to give him a mortgage, and others were not able to give him any short-term funding, as some banks view clients in retirement as high risk due to their age and income.
The solution
Our specialist brokers have built strong relationships over the years with a group of trusted lenders, who are non-traditional and offer short term finance.
With the hard work of our broker team, we found a non-traditional lender who was willing to be involved in our client’s case, and together we arranged a regulated short-term bridging loan, to help cover his moving costs.
With the broker, we helped to create an agreed re-payment plan using the funds from his original properties eventual sale, and our client was able to purchase his dream retirement property.
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.