Chain Break Bridging Loan
GWD Finance are specialists in chain break bridging loans
If you have a buyer for your property who pulls out unexpectedly, but you wish to still complete on your purchase, we may be able to get bridging finance against your current residence to bridge the gap in purchase funds whilst the current residence sells.
This would give you additional time to sell the property at a price you were satisfied with rather than needing to sell quickly. These loans can be arranged quickly and efficiently to fit your timescales and ensure completion in a timely manner.
Example
We had clients in London buying their dream home and they had a buyer for their property, the buyer pulled out just before exchange of contracts.
We managed to release the equity from their property through bridging finance within two weeks, allowing them to exchange and complete on the purchase on time.
They then had 12 months to sell the property with no additional monthly mortgage payments (as the interest rolled up on the bridging loan).