Bridging loan for property purchase to be repaid by pension drawdown
The Scenario
Our client had the opportunity to buy the house and land adjoining his Derbyshire home: he wanted to improve the difficult driveway access to his home and enlarge his garden, and then sell off the purchased house on its reduced plot of land.
A withdrawal from his £1.3M pension pot, which he could draw down in two months’ time, would give him the funds he needed.
Except he could get a substantial discount if he bought now.
The Solution
The answer was a bridging loan: we could get him the full purchase price he needed, secured against the value of his home which would be repaid quickly with the allowable 25% drawdown from his pension.
From application to offer: 6 working days.
Simon Mullins
Finance Broker CeMAP
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.
Paige Dumpleton
Finance Broker CeMAP
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.
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Bristol
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Scott Dutfield
Finance Broker
Cardiff
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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
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Bristol
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Nick Kerley
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Cardiff
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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.
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