Bridging finance to port a mortgage

THE SCENARIO

OUR SOLUTION To do this, you are technically required to pay back the loan before taking out a new, identical facility. Whilst this is fine when selling and simultaneously purchasing the new property, this was obviously not possible in my client’s situation. We therefore planned to arrange a bridging finance facility. Unfortunately, the lender was not happy with this as a temporary solution, so we had to take a different approach. I therefore raised bridging finance against the property for sale and another property in her portfolio. This allowed her to repay the outstanding mortgage on the property to be sold and port the mortgage across to the new property while also filling the gap the equity in the property would have covered for the purchase. Even if our initial solution turns out not to be a good fit for your scenario, I will always work tirelessly to ensure we can find a resolution which enables you to carry out your plans successfully.]]>