Helping a couple downsize into their 'forever home'
When the chain collapsed in a couple’s complex house sale, we stepped in to help them bridge the gap and secure their downsized dream home.
The ask
A married couple wanted to downsize from their home of 31 years, a four-bedroom farmhouse and equestrian centre in Macclesfield Forest, to a new build property in nearby Congleton. Competition for the £1m property was fierce and a sale was agreed, but a legal issue at the bottom of the chain meant the sale fell through three days before it was due to complete. Luckily, the developer selling their new home agreed to an extension on completion, but the couple needed to find a short-term plan to fund the purchase while they waited for another buyer.
The solution
We worked with the couple to provide a short-term bridging loan to secure the purchase of their new build home while they waited for the sale of their old come to complete. The couple were able to pay back the loan within the allotted 12 months, using proceeds from the sale of the farmhouse.