Case Study: Fast Bridging Loan with Low Credit Score to Buy Before Sale

Fast Bridging Loan with Low Credit Score to Buy Before Sale

Area
North Wales
Capital Raised
£140k

In today’s world of credit cards, payday loans and buy now pay later spending options, it can be surprisingly easy to find yourself with a low credit score.  

Fortunately, a bad credit record doesn’t close the door to bridging finance – it might reduce your options, but with a good broker in your corner you can still be eligible for a bridging loan to fulfil your property ambitions.  

The Scenario

This client came to us looking for a standard ‘buy before sell’ bridging loan.  

They were looking to purchase a new home in North Wales for £280k while they waited for their existing property to sell.  

Their current home was mortgaged, but they had built up roughly £150k of equity in the property that they planned use to fund their new purchase, along with a generous deposit from their father to reach the full value. 

This is a textbook bridging loan scenario: not wanting to lose out on a new property while you wait for a slow sale on your current home.  

The Solution 

While a bad credit score can rule out certain bridging lenders – it isn’t a lost cause when it comes to securing a loan.  

Our broker knew a handful of lenders that would look at this client’s application, and set to work in liaising with each to establish the best option.  

But with competition fierce for the property our clients were looking at, we also needed to move fast. 

In order to speed up the process and save our client from paying for an extra valuation fee, we managed to secure the loan solely against the property the client was buying. The existing home that was being used as the exit for the loan wouldn’t need to be used as security. 

In just 8 calendar days we had an offer agreed, and the full funds were secured in just 33 calendar days – exceptionally quick given the circumstances. 

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.

Book Consultation

Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

Book Consultation

Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

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

Book Consultation

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

Book Consultation

Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

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

Book Consultation

Nick Kerley

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.

Book Consultation

Specialist Car Finance

Broker Finance Team

Bristol

0203 900 4322

Do you need help sourcing car finance?

Speak to our finance team or book a team to speak that suits you. 

Book Consultation

Business Finance

Business Finance Broker Team

Bristol

0203 880 8890

Do you need help sourcing business finance?

We have extensive experience sourcing unsecured and secured finance for businesses. Book a free telephone consultation with our business loans broker team at a time to suit you.

Book Consultation

Mortgages & Short Term Finance

Mortgage Broker Team

Bristol

0117 959 5094

Do you need help sourcing a UK mortgage?

We have extensive experience securing 1st and 2nd charge mortgages. Book a free telephone consultation with our mortgage broker team at a time to suit you.

7 Reasons why you should use a specialist mortgage broker »

Book Consultation

Development Finance

Broker Team

Cardiff

0117 959 5094

Do you need help sourcing UK property finance?

We have extensive experience securing UK development finance. Book a free telephone consultation with our team at a time to suit you.

Book Consultation

Expat and Foreign National Mortgages

Broker Team

Bristol

+44 203 900 4322

Do you need help sourcing UK property finance?

We have extensive experience securing UK mortgages for clients based outside the UK. Book a free telephone consultation with our team at a time to suit you.

Book Consultation

Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

Are you looking for a similar type of property finance?

Get in touch today and find out how I can help.

Book Consultation

Bridging Team

Clifton Private Finance

Bristol

0117 959 5094

Are you in need of a similar type of property finance?

Book a free telephone consultation with one of our bridging specialists today and see how we can help you.

Book Consultation

Sam Baker

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.

Book Consultation

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.

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

Book Consultation

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.

Book Consultation

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.

Book Consultation

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.

Book a telephone consultation at a time that suits you.

Book Consultation

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

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.

 Book a free telephone consultation with me at a time to suit you, clifton private finance

Book Consultation

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

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.

View Profile »

Book Consultation

Contact Us