| Property | Five-bedroom family house (purchase) plus existing home |
|---|---|
| Location | Hampstead, North West London |
| Client | Homeowners whose own buyer withdrew shortly before exchange |
| Product | Bridging loans |
The challenge
The family's buyer pulled out, and the seller of their new home would not wait. They needed to buy before selling, without losing the house.
What we did
We arranged a regulated bridging loan secured on both the new house and their existing home. Using both properties kept the LTV low. The exit was the sale of their old home, which was re-marketed straight away. We explained that bridging is expensive short-term borrowing and that they would need a plan B if the sale took longer.
The outcome
The family completed on their new home and repaid the bridge when their old house sold.
Bridging loansFast, short-term property finance for auctions, chain breaks, refurbishments and time-critical purchases.
Learn moreImportant: Bridging and development finance are short-term, secured borrowing and can be expensive. You need a clear, realistic exit plan. Loans secured on a home you live in may be FCA-regulated; most others are not. Your property may be repossessed if you do not keep up repayments.