Quick Bridging Finance for Sunny Spanish Holiday Home
- Devon
The Scenario
Our clients each owned their own properties in Devon – he in Barnstaple, she in Westward Ho! But now they’d seen the perfect holiday home they wanted to buy together in Spain. Back home from putting down their deposit in Murcia they had to get one of their properties sold – and rápidamente.
They needed to get the balance to be paid into an account in Spain in 10 day’s time.
The Solution
Our first solution hit the buffers when the lender’s inspection of the Barnstaple property revealed that it was only single-skin construction: a build type they’re not prepared to lend on.
Having lost a valuable couple of days, we focused on the Westward Ho! property, and approached a lender who does quick online valuations.
Job done: deal completed in eight days, leaving time for the foreign exchange transfer to go through.
Sam O'Neill
Bridging loan calculator
Your Borrowing
Loan Required
Property value to be used as security*
Do you have any current charges on the property(s)?*
*Such as an outstanding mortgage or current bridging loanOutstanding charges /mortgages amount
Last Step - Get a bespoke quote
Your Borrowing
Loan Required
Property(s) Value*
Do you have any current charges on the property(s)?*
*Such as an outstanding mortgage or current bridging loanOutstanding charges /mortgages amount
Your Loan Quote
Loan Required
£50,000
12 MonthsMonthly Interest Rate
£40,000
£40,000
£40,000
Loan Term
12 Month(s)
Your LTV
72%
Your Loan Costs
Valuation fee:
£690
Solicitor fee:
£1,440
Lender facility fee @ 2%:
£1,029.42
Admin fees:
£155
Our Arrangement Fee:
£495
Total Loan Cost:
Yes
Yes