Funding the purchase of a clients’ dream home

See how our team secured a crucial bridging facility to help our client downsize before selling their property.

£700,000 Bridging Loan

Our clients were looking to downsize from their existing home and managed to find their dream property in the process. Since they didn’t want to miss out on this property but hadn’t yet sold their previous home, they needed a bridging loan that allowed them to purchase their new house early.

Additionally, our clients wanted a further £100,000 loan that would be used to cover a variety of home improvements and Stamp Duty Land Tax. Using both the existing and new properties as security, we provided a £700,000 loan to cover both the value of the new property and the additional loan amount required.

This loan was provided at a 48% LTV on a 12-month term with a retained interest rate of 0.59%. This bridging loan was organised swiftly to ensure that the client was able to secure the property they wanted without issue which would be repaid upon the sale of their existing property.

Overview of Case Study

  • Product: Regulated Bridging Finance
  • Value: £700,000
  • Loan: £1,450,000 (both existing property and new property used as security)
  • LTV: 48%
  • Term: 12 Months
  • Rate: 0.59% (Interest Retained)
  • Exit: Sale of existing property

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