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bonna
Posts: 1 Newbie
We have found our dream property, but seller wants to complete within one month, and has therefore accepted offer £30,000 less than ours. Our house has only just gone on the market. Does any one have any experience of bridging loans?
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Comments
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There have been a few posts on this recently if you go back thro' the threads here and on the mortgage board.
Bridging is v. expensive particularly with the market slow and now coming up to Christmas which means you may have the loan for quite a few months before yours sells.
As an example, LTSB - HERE - charge 6.5% + 1% of amount borrowed arrangement fee for an open [where contracts haven't been exchanged on your sale] bridging loan.
Do your sums but avoid if possible. BoL.0
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