Bridging Loan to Buy Property During Divorce While Waiting for Family Home to Sell

Bridging Loan to Buy Property During Divorce While Waiting for Family Home to Sell

Area
Cheshire
Capital Raised
£700k

Untangling your finances and splitting your wealth during divorce can be messy financially and logistically.

Waiting for solicitors, judges, estate agents, accountants and other parties while your wealth is tied up in your property can be financially draining and physically restrictive.

You might find yourself having to live with your ex-partner in your family home while it sells.

Or, if you or your partner have to rent while waiting for the family home to sell, it could mean an additional financial cost and prolonged uncertainty for both parties.

We work with clients going through a divorce, and many of them are surprised at the range of flexible finance options available to them that can resolve the logistical and financial strains of the legal process.

Provided that we have agreement from your solicitors and you have received your Decree Absolute, there are many ways we can use bridging finance to reconcile the financial arrangements of your divorce - including buying out your partner from the family home to avoid having to sell it.

The Scenario

Our clients approached us having received their final order concluding their divorce settlement but were waiting for their primary residence to sell to split their assets.

The husband was still living in the family home, valued at £1.75m, and the wife was renting a flat while they waited for the house to sell to split their wealth.

However, they wanted to complete building works on the home before selling to ensure they realised its full potential value.

They also wanted to purchase a buy to let property generate income and offset the costs of their rental payments.

But with their wealth tied up in their primary property, they didn’t have the cash on hand to complete their purchases or adequately renovate their main home.

The Solution

We suggested raising a short term bridging loan of £700k, secured against the main residential property.

  • This would fund their two BTL property purchases at circa £250k each
  • And leave up to £200k for their primary home’s refurbishments as well as other living costs
  • They could then exit the bridge upon the property's sale

The 12-month term would allow the property to be on the market and receive a good offer.

And the flexibility of the finance meant they could put their wealth to work through their BTL properties instead of being tied up in their primary residence for another year.

The rental income would cover the wife’s rented flat costs, so the two could live separately and begin to get some closure on their separation.

 

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

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Cardiff

0203 880 8890

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

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I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

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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Carly Cheeseman

Head of International

Bristol

0117 457 9922

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I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

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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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Louis Levine

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Bristol

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Sam Baker

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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Fergus Allen

Senior Finance Broker

Cardiff

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

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I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

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I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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