Model the sale taking longer than expected
The borrowing needs to cover the required purchase funds after costs and any redemptions. Sale price, marketing progress and existing mortgages all matter. We discuss what happens if the first offer falls through or the eventual price is lower.
How I approach the case
We begin with what you want to achieve, your timescale and any part of the case that needs explaining. I review the evidence and suitable lender routes, then explain the available options and their costs. A recommendation follows the individual assessment; an initial conversation does not commit you to an application.
Where legal, tax or other specialist advice is needed, we identify it early so the finance fits the wider transaction. Tell me about any change in employment, borrowing, deposit or property details before proceeding.
What to prepare
- Current sale progress and asking price
- Both property and mortgage details
- Onward purchase deadline
- Cash reserve and fallback plan
You do not need every document before saying hello. Start with a short outline; detailed or sensitive records should follow through an agreed secure route.
You may carry borrowing on two properties. A delayed sale can increase interest and may leave a repayment shortfall.
Your questions, answered
What does the lender need to understand about the exit?
Explain how and when the short-term loan will be repaid, and the evidence behind that plan. A sale, refinance or other repayment source has different dependencies. Consider what happens if the property takes longer to sell, works run late or a refinance valuation is lower than expected.
Which costs should I ask to see in writing?
Ask for the interest basis, facility term, arrangement fee, legal and valuation costs, any retained interest and the amount actually available at completion. Where applicable, check exit charges and extension terms. The headline facility and the money available to use can differ.
Can we discuss an auction or urgent deadline?
Yes, but share the actual contract deadline and available documents immediately. The valuation, legal work and underwriting still need to be completed. An initial conversation or indicative terms should never be treated as a commitment that money will arrive by a particular date.
Further reading: MoneyHelper: mortgages and homebuying. Content reviewed 9 September 2026. General information; availability depends on the individual case.