Repair a property sale chain break
Experts in speed of loan execution.
We have been there ourselves. we have found a property, everything is good to go and then the person that was supposedly purchasing the house we was selling backs out.
Irrespective of if they have found another property, or if they were just 'tyre kickers' that took it too far, it is infuriating, to say the least, and annoying in the fact that they have wasted everybody's time.
Then there is the small matter of breaking the chain in the properrty sale.Most of the time when this happens, people tend to miss out on the new home they have set their heart on.
There are solutions. you can use a property buyer. For a quick property sale, you tend to get between 60 and 90 percent of your homes value, all depending on which private buyer you use. For this trade sale, typically you shouldn't have to contribute a sing penny towards completion and you should expect completion in five working days.
Another option is to use the house as security for a short term loan to bridgie the gap until you find a new buyer for the home. You can then use this advance to purchase the house you was in danger of losing because of the property chain break.
Alternatively, give us a call and speak to one of our expert and highly proficient customer service representatives who can verbally tell you about our bridging loan products.
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0845 475 1420 0203 287 7169
Homeowner bridging loans.
Since the global financial meltdown that started around 2006, massive, massive changes were made to the banking industry. If you recollect, the Government actually had to bail out many banks and therefore ended up with part or whole ownership. Strict regulations were put in place to combat the boom and bust scenario surfacing again, which means, the High Street lenders can no longer offer loans and finance to people with a poor credit rating. However, as we are independent, we are able to judge every application on its own merits.