Our clients had agreed a price to purchase a new property. They were retired, looking to downsize and had found the perfect house in which they could enjoy the rest of their retirement. The price was agreed on the new property but the sale of their current property had hit problems leaving them at risk of losing the opportunity to purchase the new house. They knew that their house would sell in the next 3-6 months due to the level of interest it had attracted.
Teesside Money were able to offer them short term , bridging finance to bridge the gap, they were able to raise the funds to buy the new house at a rate of 0.49% per month. The finance was then repaid when the sale of their current home was completed three months later. Although this option came with additional interest payments that the clients had not foreseen, they were overjoyed that they had been able to secure what they saw as the perfect property, as well as a chance to finally settle down and enjoy their retirement.
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Think carefully before securing debt against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other loans secured on it.
Teesside Money Limited Company Registration number 10991314. Registered Address at 80 Coleman Street, London, England, EC2R 5BJ, with a Trading Address at 4 Wellington Street, Stockton-on-Tees, TS18 1NA. Teesside Money Limited is registered with the Data Protection Act 1998 registration No. ZA287646 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 799826.