Our clients were looking to sell their current home and downsize, their current property is on the market for £450,000 and they have found a new property for £360,000 which is their dream home and location so they do not want to lose the property. They already have a mortgage balance of £195,000 on their current home.
Through our excellent relationships with bridging lenders, we were able to source a bridging loan for the £360,000 secured over both properties with a lender that specialises in bridging loans on a regulated basis, the rate was the cheapest on the market at 0.75% per month and can be repaid as soon as the current home sells.
Our clients can complete the purchase of their dream home, and keep their current home on the market to make sure they sell for the best price.
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