Bridging Loan - Moving House
The Scenario:
This case study involves a lady who wanted to move nearer to one of her children due to being recently widowed. She had found a new, smaller property and wanted to move as soon as possible.
Trying to manage the sale of a current home while also purchasing a new one is stressful, even more so for mature homebuyers.
Our Solution:
Bridging Finance can be particularly useful in this kind of case as it grants the borrower flexibility. By being in the financial position to purchase a new home immediately, there is no fear of losing a perfect home to another buyer. Something which can’t normally be achieved unless the sale of the previous property has gone through.
Additionally, the flexibility of bridging finance in this situation means that the borrower is able to move in to their new home when they need to. They aren’t tied in to a situation where they have to move out of their old home or move in to their new one by a certain date.
While this lady had already found her new property, she had not yet put her old home up for sale but realistically she needed to buy the new property before selling the 3 bedroom detached house which she then lived in.
By using bridging finance, held on both properties, she was able to borrow £196K for 9 months which meant she could proceed with the lowest amount of disruption.
Are you in a similar position?
To investigate your options call our team on 0203 900 4322 or complete our callback form:
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.