Bridging Loans

Delilah0105

Hi, I have just sold the ex marital home and still living in it with my daughter, ex pays the mortgage. I am under pressure to exchange within the next 4 weeks. I have seen a property I like and have had an offer accepted BUT, my ex has still not agreed a settlement on the split of the profit of the ex marital home and therefore I cannot proceed to buy my home without my half of the settlement. I cannot afford to rent anywhere and I would also lose the house I am buying so I figure my only option is to consider a bridging loan to finance the buying of my house until the ex agrees a settlement figure. Obviously I really don't want to do this and I don't think I would be able to secure one anyway. Any advice out there would be hugely appreciated

[Deleted User]

It's possible, but you're going to need the income and credit history to support it.

Expect also to pay more as it's high risk.

sal_III

If you are so skint to not being able to rent, how are you going to pay the high interest loan? Also what happens if you don't get 50/50 split of the marital assets?

Sounds like a recipe for disaster.