How will the bridge be repaid?
Start with the property sale, the likely timetable and the evidence behind the expected price. A hopeful date alone is not an exit plan.
Jack CousinsFinance Adviser & Consultancy · jackcousins.com
Lender-policy illustration · Bridging
Buying before the current home has sold
A homeowner needs short-term finance while their existing home is being sold.
Illustrative situation · criteria checked
The policy that makes this worth discussing.
Together’s regulated-bridging criteria accept sale of an owner-occupied property as a repayment strategy. The home must be on the market and sales particulars provided. Its published term is 12 months with rolled-up interest, and independent legal advice is required.
Keep in view: Rolled-up interest increases the amount owed. A delayed sale can create repayment risk; security, equity and all other lending conditions still apply.
Read the lender’s published source ↓Work through the brief, step by step.
The realistic sale timetable and net proceeds are central to assessing a bridge.
What is left after the sale?
Consider the existing mortgage, selling costs and the full amount needed to redeem the bridge when comparing expected proceeds.
What if the timetable slips?
Discuss a slower sale, a lower price and the practical alternatives before committing to the purchase.
These are practical questions for an advice conversation, rather than additional lender criteria.
Bring the facts together before deciding.
I would examine the exit and overall costs first, compare the available ways to manage the chain and explain the consequences of the sale taking longer than expected.
Explore Bridging finance ↗A useful place to start.
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Lender criteria sources
Checked . These links lead to the lender’s intermediary information. Criteria can change; current access, product rules, affordability, credit and the property must be checked for the individual case.
- Together personal finance lending criteria ↗Repayment strategies; Loan term; Interest rollup; Independent legal advice
No product rate, lending approval or completion timescale is promised.
Your next step
Does this sound like your situation?
Tell me where you are starting and what you would like to achieve.
Your home or property may be repossessed if you do not keep up repayments on your mortgage or other loans secured upon it.