£500k bridging brief for a Blackheath home move

The borrower’s brief

A buyer wants to purchase a £1 million Blackheath house before selling their current home. They propose £500,000 of bridging and £500,000 of available cash towards the price. The old home still has a mortgage, which must be allowed for when estimating sale proceeds.

The question behind the loan

A sale asking price is not a repayment fund. The brief needs an estimated net sale position after debt and costs, evidence of sale progress, and a plan for delay or a lower offer. Which property secures the bridge remains part of the assessment; the simple figures do not describe the full security structure.

Information to bring together

• Both property addresses, occupancy and all borrowing secured on either property.
• Evidence of available cash and the separate purchase-cost and interest budget.
• Sale progress, estate-agent information and an estimate of net proceeds.
• A practical response to delay, including extra costs and whether another repayment route is credible.

Where the assessment goes next

The repayment plan and total cost need testing before the buyer commits to the timing. A future remortgage is not a guaranteed fallback. The adviser must establish the appropriate regulatory treatment from the actual circumstances.

Discuss your own circumstances

A similar loan amount or property type does not mean the same finance is available. Income, commitments, credit history, the property and current terms need an individual assessment. Tell Jack what you want to achieve and any part of the plan that remains uncertain.

Start a conversation about your own brief ↗