£650k bridging proposal for a home move

The borrower’s brief

A homeowner wants to buy a £1 million house before their existing home has sold. The illustration assumes £350,000 available towards the price and a proposed £650,000 bridge secured on the new property. The old home’s expected sale is the intended repayment route.

The question behind the loan

The sale exit is a plan, not a completed repayment. The existing mortgage, sale costs, likely net proceeds and timing need to be reconciled. A slower sale or lower price could leave the borrower with a longer commitment or an unresolved shortfall.

Information to bring together

• The old property’s sale position, existing debt and estimated net proceeds.
• Evidence of the cash contribution and other transaction costs.
• The proposed security and any existing charges or restrictions.
• Interest, fees, repayment date and a credible contingency if the sale is delayed.

Where the assessment goes next

Assess the exit and total cost before making a binding purchase commitment. The example £650,000 is the proposed principal; fees and interest are excluded and could change the facility needed. Regulation and suitability depend on the actual circumstances, including occupation.

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 ↗