Bridging loan makes for a less stressful downsize
Our borrower is a recently widowed lady. She was seeking to move to be closer to one of her sons, a move which also involved moving into a smaller property.
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No ordinary charity case
One of the aspects that makes working in the Bridging sector so interesting is its variety, whether of the story behind the loan or the borrower.
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Bridging helps businessman to make an off-plan profit
In November 2013, our borrower, an entrepreneur businessman, had agreed to purchase an apartment off-plan. The apartment is in Central London and had a purchase price of £2.4m.
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Bridging loan funds a fleet of limos
We were approached to help a customer who, together with some members of his family, runs a well-established limousine business.
The fleet of cars is “refreshed” at regular intervals and the business required short term funding to facilitate the most recent set of new car leases.
Pension provides part of the exit for this house purchase bridge
Our borrower is an international sports personality who spends much of their time abroad but wanted to purchase a UK residence for when they were “home”.
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A pragmatic approach to a challenging bridging loan
Our borrowers were experienced professional property developers who owned a significant portfolio of residential and commercial property as well as development sites.
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Bridging a downsize to a mobile home
According to the Prudential, almost 2.5 million ‘last time buyers’, those being current home owners over the age of 55, plan to downsize their homes.
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Borrowers’ home secures a bridge to buy at auction
Although bridging loans are often used to assist with the purchase of properties at auction, the property being purchased does not always have to be taken as security for the loan.
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