Sometimes the right property appears before the finance is settled. That is a solvable problem, but only for a few weeks, and only if you are honest with everyone about the timetable.
Say so immediately
An agent who knows your finance is three weeks away can manage the vendor's expectations. An agent who finds out at the searches stage will remember it, and so will the vendor.
The three bridges worth considering
- A short bridging facility, priced monthly — fast, and expensive enough that it needs an exit date on paper.
- A longer completion date written into the contract, which costs nothing and is refused less often than people expect.
- A larger deposit from family, documented as a gift or a loan before the solicitor asks.
What not to do
Do not take a higher-rate mortgage on the assumption you will remortgage in a year. Early repayment charges are designed to make exactly that plan expensive, and rates have moved against that bet more often than for it.
No home is worth any financing. Some are worth waiting a cycle for.Slateon Advisory
