Posted on 1 December 2012
My hubby and I are 69 & 70 and would like to buy another house. We have savings of approx £400,000 of which £250,000 is tied up. Our home is worth £800,000. The property we want is £280,000 and don't want to loose it while waiting to sell.
There are a number of options open to you in this scenario, the main one being a bridging loan. Bridging loans focus on the assets involved and the exit strategy, which in this case would be the sale of your current home. John Charcol is an Independent, Whole of Market Broker, and we have extensive experience in dealing with situations such as yours.
If you would like to discuss your enquiry in more detail, then please let me know and I'll arrange for one of our consultants to contact you.
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