bridging loan advice please

wombat12_2

Hi - is there anyone who can help with my question please.

Am relocating with work and have just found my dream house which is up for auction in about 3 weeks. I have yet to sell my current property though, and I do not have anywhere near to the auction guide price in available cash - although I can afford the 10% deposit.

I am, however, in the very lucky position of having a large amount of equity, and to help me move, my company guarentee to buy my house off me if it hasn't sold after 3 months.

I am close to the limit (3x salary) of borrowing on my house now, and my current bank doesn't do bridging loans. All the other high st. banks I have approached either do not do bridging loans or only consider them for customers who have banked with them for 6 months or more.

Are there reputable companies out there who will consider a closed bridging loan (for about 3 months), or should I just pass up the great oppertunity at the auction.

Thanks for reading

kingstreet

This outfit seem pretty good, although I don't get involved in bridging, so I've never used them personally;-

http://www.tiutaplc.com/

Have a chat to a whole market or independent broker.