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  • Bridging loans, anyone used one?
  • sundaywobbler
    Full Member

    Hello folks,

    Right, have been given the chance to buy a property at significantly below market value, before it goes on sale to general public, only problem is that I need to move pretty quickly in order to get cash to the seller, therefore thinking that in order to facilitate this I need to get myself a bridging loan to purchase said property whilst my property goes on the market.

    Once mine is sold then either pay my mortgage off and get another mortgage to against the new property to pay off the bridging loan and then ‘normal’ service can be resumed.

    Question is, has anyone used a bridging loan company and if so do they have any recommendations about who to use?

    Anyway, this is my current line of thinking, my place is getting valued this afternoon and this will obviously have a bearing depending upon how much equity (or not) I end up having…

    House sales and estate agents are not my favourite things!

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