fix property chain with bridging loan

How to fix a broken property chain with a bridging loan

03 / 08 / 22

You’ve found your dream house in the perfect location. It’s close to work, has a spacious garden for the kids and there’s even room to expand. You’ve put an offer in and it’s been accepted! 

The only issue is that your buyer has just pulled out because of issues on their end of the buying chain. You don’t want to risk losing out on the family home of your dreams because there are issues slowing down the buying process. So, now what? 

Just because the property chain has collapsed, doesn’t mean you need to risk losing out on your dream home. As a homeowner, you’ll know that purchasing a home is stressful stuff, and there are many opportunities for hiccups along the way. 

For things to go smoothly, the property chain relies on a lot of things happening on time, in a smooth manner, without breaks in the chain for things to advance forward. And when something goes wrong to risk that, sometimes it’s not clear what can be done to repair a broken property chain.

Usually, you won’t be able to complete a sale without selling your current property first. If you’re unable to sell your property and come up with the cash to buy your dream home, you could be losing thousands of pounds in fees and additional costs. 

Fixing a collapsed property chain with a bridging loan

With a bridging loan, you don’t have to miss out on your dream home. A bridging loan will fix a collapsed buying chain by allowing you to purchase your new property outright with cash, allowing you to complete on your side whilst your house remains on the market. 

Once your home is sold, this money can be used to pay off the bridging loan, plus the pre-agreed rate of interest, so you don’t need to worry about additional monthly payments. When it comes to property, cash buyers are usually favoured for their reliability and security – and you can often negotiate a price reduction when you’re a cash buyer. Win, win!

Being in a position where you can purchase your next property without needing to wait for your current property to sell puts you at a great advantage in the property market. This means that you can quickly purchase a property with cash and move in, eliminating the usually slow process experienced when buying a home.

Discover how our bridging loans have helped others and get in contact with the team today.




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