£10.2M Personal Bridging Loan Helps Buyer Secure New Residence Before Existing Property Sale

• Client: Private client
• Challenge: Complete the purchase of a new residence before the existing property was sold
• Loan Amount: £10.2M

The Challenge

The client identified a substantial residential property that met their long-term requirements. The seller was seeking a prompt transaction, but the client's existing home had not yet completed its sale.

The client had significant equity in the existing property but did not want to delay the purchase while waiting for the sale to complete.

The Bridging Solution

Global Bridging Finance arranged a £10.2M personal bridging loan, secured against the new residence and the client's existing property.

The lender assessed the values of both properties, existing borrowing, the overall security position and the proposed repayment strategy.

This allowed the client to proceed with the new purchase without waiting for the existing property sale to complete.

The Exit Strategy

The primary exit was the planned sale of the client's existing residence, with the proceeds intended to repay the bridging facility.

A secondary exit involved refinancing the newly acquired property onto a long-term private banking facility if required.

The Outcome

The personal bridging loan provided the client with the flexibility to secure the new residence while the sale of their existing property was being finalised.

The case demonstrates how personal bridging finance can help manage the timing gap between selling one high-value property and purchasing another.