£1.05M Time-Critical Bridging Finance to Secure a North London Home

The clients were looking to purchase a new primary residence in North London, but the vendor was unwilling to wait for their existing properties to sell. With a hard deadline in place and the risk of the deal collapsing, the clients needed to act quickly to secure the purchase.

Clifton Private Finance arranged a tailored bridging solution that allowed the clients to move forward as cash buyers. By structuring the loan across multiple properties and raising additional capital for stamp duty, we ensured the transaction completed on time despite a highly compressed timeframe and complex personal circumstances.

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The Challenge

The primary challenge was speed. The transaction needed to complete before the Christmas period, with the vendor prepared to withdraw if deadlines were missed. Any delay would have resulted in the loss of the property.

Additional complexity came from the clients’ age profile, with both borrowers in their 80s, which significantly narrowed lender appetite. The loan also needed to cover not just the purchase price, but additional stamp duty and a small equity release secured against their existing property. Coordinating all of this within a short window required a specialist, hands-on approach.

The Solution

We sourced a specialist bridging lender willing to take a pragmatic view of the clients’ circumstances and age, while securing the loan across multiple assets. The facility was structured against the new London purchase and the clients’ existing residence in Chard, allowing sufficient funds to be raised to cover both the purchase and the additional stamp duty costs.

By focusing only on lenders with the appetite and capacity to move quickly, we avoided a scattergun approach and secured competitive terms despite the tight deadline.

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The Outcome

The transaction completed within six weeks, allowing the clients to secure their new London home before the vendor’s deadline. The bridging loan provided the flexibility needed to complete the purchase while giving the clients time to sell both their current residence and an investment property as a clear exit strategy.

Without specialist advice, the clients would have struggled to find a lender prepared to support a time-sensitive transaction involving older borrowers and additional capital raising. By structuring the deal correctly and acting decisively, we ensured they did not miss out on their intended purchase.