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Is a "bridging" loan the opion in this case? How/who/what or what else? Details in post.

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  • ACG
    ACG Posts: 24,576 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Yes, subject to affordability. 
    You will have to pay higher rate stamp duty but I think you can claim the surcharge back if it sells with 1 year or 3 years (I forget which sorry). 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • maxxpayne
    maxxpayne Posts: 145 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    ACG said:
    Yes, subject to affordability. 
    You will have to pay higher rate stamp duty but I think you can claim the surcharge back if it sells with 1 year or 3 years (I forget which sorry). 

    I believe it's 3 years.
     

  • ACG
    ACG Posts: 24,576 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    maxxpayne said:
    ACG said:
    Yes, subject to affordability. 
    You will have to pay higher rate stamp duty but I think you can claim the surcharge back if it sells with 1 year or 3 years (I forget which sorry). 

    I believe it's 3 years.
     

    Good job one of us knows. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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