A single security bridging loan is a fantastic solution for downsizers and retirees, giving them more options for their next purchase.
The bridging loan is secured against the property being sold, not the property being purchased. This makes it an ideal option if your clients are looking to purchase a non-traditional property type, such as:
The funds can also be used to support the purchase of a traditional property, whether it be for a deposit or a portion of the purchase.
Once your clients sell their property, they simply repay the loan.
If you have any questions on Bridge or how bridging can help you reach more clients, please get in contact with your CHL BDM.
