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Case Study:
TLC for their new home
Our customers wanted to purchase and complete some minor renovation to a new property before selling their current home and moving in. Their plans included upgrading the kitchen and bathrooms, replacing windows, redecoration throughout and full re-landscaping of the gardens. The costs for the renovations were covered by the customers’ savings and they estimated the works could take up to eight months to complete.
The customers opted for up to 24 months bridge with interest rolled up. Nearing completion of the renovation works, their current home sold, redeeming the bridging finance in full at no penalty.
Case Study:
Retired borrower wanted to move into a sought-after retirement flat
A customer in their 80’s wanted to secure a retirement flat that had unexpectedly come onto the market before having sold her large detached property. The enhanced sheltered accommodation was in a desirable location being much nearer to her family. The bridging finance enabled our customer to proceed with the purchase without delay and gave her time to secure a buyer for her former home.
Case Study:
Two loans for growing family
Our customers wanted to buy a larger property for their growing family. They had an offer accepted on their home only to have the sale fall through. With the help of bridging finance they were able to proceed with the purchase of the new home, giving them time to find another buyer. They also needed to secure a residential mortgage for their new home. The Society was able to process both applications simultaneously to ensure a quick completion and a competitive long-term solution.
