Upsize & Refinance Bridging Loan
GWD Finance are specialists in upsize and refinance bridging loans
If you are upsizing and need to complete quickly on a purchase, a bridging loan could be the answer.
We can secure finance on a current residence and an upsize property to complete the purchase, then pay the bridging loan down as the current property sells and we secure a refinance on the new property. This enables you to purchase the property before selling your current one.
Example
Our clients had two properties for sale, but they were not selling at the prices they wanted due to an uncertain market.
However, they had found the property they wanted to buy and needed to complete quickly to secure it.
We managed to get a bridging loan for them so they could perform to the vendors’ requirements and then pay down a portion of the bridging loan as the properties sold.
We will then refinance any surplus monies owed to the lender after the sales.