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The client had their offer accepted six months prior, however owing to delays in the mortgage process, the couple’s purchase of a long desired family home valued at £1.6m was at risk of falling through.
As advised by another mortgage broker, they initial planned to raise funds against their holiday let worth £460k to facilitate with the transaction. However, with the mortgage heavily delayed at legals, a short-term finance solution was required in order to keep the vendors happy and exchange as soon as possible. Given the time constraints, the other mortgage consultant was unable to identify a solution to meet this particular date putting the property sale at risk!
Enter Private Finance…
With access to every lender on the market and vast experience negotiating property finance of every kind, Private Finance’s expert brokers are equipped to find solutions to mortgage-related problems where others possibly cannot.
Our broker stepped in and using their vast knowledge of the mortgage market, managed to arrange a bridging loan priced at 0.48% per month for 12 months to meet the deadline, enabling the clients to purchase their desired home.
If this is something that is relevant to you please feel free to make contact and we’ll see if we’re able to assist.