Bridging Loans

A bridging loan involves mortgages on two or more properties at the same time, i.e. where the sale of an existing property will not happen until after a purchase has taken place.

This is a high risk financial transaction which requires very careful thought - independent financial and legal advice should be considered before proceeding.

If you have made a thorough assessment of the risks involved, we will be happy to listen to your requirements.

Each enquiry is assessed individually with the aim of providing a solution that is right for you.

For example, you may only expect to have the bridging facility for a couple of weeks simply to avoid the inconvenience of moving out of one property on the same day that you move in to another.

Alternatively, you might have two properties to sell and know that they cannot both be sold on the same day as your purchase.

The terms that we offer will depend on your requirements, but we will confirm these to you as soon as we have assessed your situation.

The following information may help you, but please remember that each enquiry is treated individually:

* The actual rate payable will depend upon your individual circumstances, please ask for a personalised illustration.

**A reduced Arrangement Fee can be agreed where a mortgage with the Society will be retained after the sale has been completed and when an Early Repayment Charge is accepted on the mortgage. Further details available on request.

This mortgage will be regulated by the Financial Services Authority (FSA). Follow this link for information regarding Mortgage Regulation.

To discuss your requirements, either complete our on-line Enquiry form or telephone our Mortgage Department on 01582 765411.

Building insurance cover is required and can be arranged by the Society.

Your home may be repossessed if you do not keep up repayments on your mortgage