Is there a cheaper way?

sneaky_fox

I have had my offer on a house accepted and payment must be made by 31st July. In the meantime, my own house (no mortgage) is still on the market for sale. I have managed to get a bridging loan for up to 6 months but am wondering if there would have been a cheaper way than this route. I am 54 and work part time.

mr_mortgage

Yours is the kind of circumstances bridging loans were designed for ... probably the only cheaper ways would have been to borrow from a (very!) rich relative or similar... a mortgage on the new property would have been likely out of the question given you work part-time (depends on the value you were buying at, though).