Using a bridging loan to secure a new home

Our client dreamt of purchasing a new residential property. However, due to their advanced age, they encountered challenges in getting a traditional mortgage.

After exploring various options, including equity release, they found themselves at a standstill. The equity release lender required them to buy and move into the property before providing the funds, which was simply unachievable.

That's when they turned to us for help.

Details of the solution:

• Loan size: £50,000
• Loan term: 12 months
• Completion time: Within the 4-week window the client had

We quickly found a solution: a short-term loan called a bridging loan. This solution allowed them to secure the property they desired and continue with their plans without any delays or complications.

Thanks to our quick and tailored help, our clients were able to make their property dreams come true.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.