£160k bridging loan when a sale fell through to secure a Spanish property
£160k · 0.44% per month · 14 days to completion
14 days from offer to completion
In short
How was £160k bridging loan when a sale fell through to secure a Spanish property financed?
Clifton International arranged regulated bridging loan for this Gillingham / Valencia transaction — £160k, 0.44% per month, 14 days to completion. £160k regulated bridging loan secured against a £375k Gillingham residential property, 0.44% interest per month, used to complete a Valencia property purchase.
- Location: Gillingham / Valencia. Finance type: Regulated bridging loan.
- Time to funding: 14 days from offer to completion.
- A client was selling a semi-detached house in Gillingham valued at £375k to fund the purchase of a property in Valencia, Spain. The onward sale collapsed at a crucial moment, leaving the client at risk of losing the Spanish property and a 15% deposit already paid.
- The client secured the Valencia property within the deadline. The Gillingham home could then be remarketed to the right buyer, with the bridge repaid from the sale proceeds.
- Loan amount
- £160,000
- Security value
- £375,000
- Interest rate
- 0.44% per month
- Completion
- 14 days
- Use of funds
- Valencia property purchase
- Exit
- Sale of Gillingham property
- Challenge
- A client was selling a semi-detached house in Gillingham valued at £375k to fund the purchase of a property in Valencia, Spain. The onward sale collapsed at a crucial moment, leaving the client at risk of losing the Spanish property and a 15% deposit already paid.
- Solution
- We approached two specialist bridging lenders and secured a £160k regulated bridge at 0.44% per month — the full amount required. We pushed for an online valuation to save costs and crucial time, then worked closely with both sets of solicitors to meet the deadline.
- Funding structure
- £160k regulated bridging loan secured against a £375k Gillingham residential property, 0.44% interest per month, used to complete a Valencia property purchase.
- Outcome
- The client secured the Valencia property within the deadline. The Gillingham home could then be remarketed to the right buyer, with the bridge repaid from the sale proceeds.
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FAQs
Questions on this case
- Can a bridging loan save a purchase if my sale falls through?
- Yes. A chain-break bridge is one of the most common uses of bridging finance. In this case, a £160k loan secured against the client's existing Gillingham home allowed them to complete on a Valencia purchase after their onward sale collapsed.
- How fast can a chain-break bridging loan complete?
- With a straightforward residential security, an online valuation and a clear exit, completion can be achieved in 1–3 weeks. This case completed in 14 days from offer to funds drawn.
- Can I use a bridging loan to buy property abroad?
- Yes. A UK regulated bridging loan can be secured against UK property and the funds used to purchase property overseas, as demonstrated by this Valencia purchase funded through a Gillingham security property.
More answers in our UK mortgage FAQs, covering standard mortgages, expat applications, foreign-currency income and bridging.
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