Bridging – Regulated
Our clients’ are semi-retired and looking to downsize from their 4 bedroom house to a 2 bedroom bungalow.
They had already identified their dream property in a desirable area close to where they live. As property moves very quickly in this area, the clients did not want to lose it whilst waiting for the sale of their existing residential property to complete. Due to the clients age, income and timescales, a traditional mortgage was not a viable option.
Finance 4 Business were able to arrange a regulated bridging loan over a 12 month term at 0.54% pcm for the full amount required. The clients were able to complete the purchase, carry out some refurbishment work and moved into their dream property within 6 weeks. The clients property was on the market for sale and the proceeds of the sale would allow them to redeem the bridge and provide surplus monies to enhance their retirement.
- Loan Amount: £320k
- LTV: 48%
- Term: 12 months