Regulated bridging loan / Speed / Forever home

I have a buyer but they’re dragging their heels, and I’m about to lose my forever house if I don’t move fast!

The challenge

Our client was under intense pressure to purchase his dream forever home, but his own buyers were taking their time and not being reactive at all.

Our client had no mortgage on his property, but also no funds to buy the onward property outright with all the associated buying costs.

The solution

We used a regulated bridging lender who we knew could perform to the timescales given, which gave him 100% of the funds to buy the onward property, plus the costs associated.

Once the property sells very soon, this will repay the bridging loan with little used up interest.

After thought

Bridging loans are an excellent tool where speed is of the essence, and a clear exit is in place. Costs can be minimised where the loan is only used for a short period of time.

Other case studies

David was absolutely amazing, from helping us find the right mortgage, to advising us, to being on hand for silly questions we had. Nothing was too much trouble for him. I will absolutely be recommending him to our friends.

Frederica Turner