Bridging loans options

MAJJ

Registered User
Messages
181
Hi Folks,

Looking to trade up. Have our own house in SCD ready to sell, brochure done but not marketed as we want to be sure on a new property and align purchase/sale.

After a lot of viewings and some close calls we have finally seen the one for us. But the agent won't take our offer seriously as were not on the market.

Now it's early days with the house we saw it could end up with bids exceeding our budget and we don't want to drive the bids up if were not in the running, been there before losing out - even as top bidder.
We would be moving our BOI tracker to SVR and funding difference with savings.

We see our choices as:
1) market now and try and align the sale/purchase
2) get a bridging loan

Bridging loan likely our choice for 1 or 2 months and we are aware of the exposure during that period.

Questions:
Any other options?
Any info on bridging loan providers,rates and conditions?

Going to talk to BOI on Monday.

Thanks,
MAJJ
 
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