- Key issue:
- Loan to value
- Case study:
- Bridging
- Date:
- 2006-01-02
- Mortgage amount:
- Various
Outcome
Plan your sale and purchase to your advantage
Detail
The moving house process can be quite daunting.In some instances it will be necessary to arrange bridging finance.Bridging finance is required when you need to complete the purchase of your new house prior to the sale of your own house being completed.This can happen for several reasons.The seller of the property you want to purchase may require a quick sale and in these circumstances you have little alternative but to arrange bridging to complete the sale.Your mortgages .ie consultant will assist you in this regard and sometimes a requirement for bridging may influence your choice of mortgage provider for your new mortgage. If you risk loosing the property you may have no choice. However sometimes bridging is required in circumstances where you were not specific on your closing date for your own property and you fail to make in absolutely clear to the purchasers of your property that you need to close.Again if there is risk of loosing your sale you may wish to thread softly.
