A couple have managed to secure their dream home, a converted barn in Barlow, Selby, securing a bridging loan with BFS, following a heart-breaking chain collapse.
The customer was part of a typical chain and had an offer accepted on their forever home when the chain broke on their property sale. Time was of the essence in order to secure the property, and the BFS team and professional partners worked collaboratively to meet the deadline and secure the deal.
BFS was able to use both properties as securities against the bridging loan.
Andy Greenhalgh, BDM at Bridging Finance Solutions commented: “A case like this typifies what bridging was originally designed for and remains a typical case to this day. Ultimately, when a chain collapses there are usually two options – one to walk away, and the other to look at a short term financial solution – which is exactly what this client did.”
The clients have been able to successfully move into their new home whilst waiting for the sale on their previous home to complete.
Andy added: “Whilst sourcing funding under pressure due to pressing timescales can be stressful and challenging, once in place, the rewards are potentially great. In this instance, the client secure their dream home, and it’s an incredibly rewarding part of my role to help make this happen!”
