A client came to us for help in purchasing a property abroad. He had found himself in a position to retire early, and decided to up sticks and move to the South of France.

He planned to purchase his new French home through the sale of his residential property in the UK. However, when that sale fell through suddenly, an alternative strategy was needed to rescue the entire move – and quickly – so he approached us.

We provided the solution: a bridging loan.

How the Bridging Loan Worked

We lent the client £27,675, at a loan-to-value (LTV) ratio of 18%, taking a second charge on his residential UK property as security.

This amount gave him the freedom to complete his abroad purchase while he waited for his UK property to sell.

He chose to pay the monthly-interest-only instalments by way of standing order mandate, which we happily agreed to given that he passed our affordability assessment.

Purchase of the Abroad Property

Our client pursued the purchase of his new property in the South of France without the assistance of a UK-based solicitor – it was all handled by a French notary.

Language barriers are often an issue in overseas property purchases, but the French estate agent provided both us and our customer with translation assistance whenever it was necessary, allowing for a smooth transaction and stress-free experience for everyone involved.

Affirmative Can Help You Buy Your Dream Home

Our bridging finance gives you the financial freedom you need to purchase your ideal home. It can help you snap up a sought-after property before someone else does, or can simply give you the head-start you need to put down a deposit.

Apply for your bridging loan now, or fill in our enquiry form and we will be in touch.

Read more about first and second charges, interest and fees.

If you are applying for a regulated mortgage contract you will need to submit your application through an intermediary that is authorised and regulated by the Financial Conduct Authority.