Help Bridging Loan?
HI I HAVE PURCHASED A NEW PROPERTY WHICH WILL BE READY ON THE 25TH MAY BUT THE BUYERS BUYING MY PROPERY CAN’T MOVE INTO THE 28TH MAY SO I HAVE TO TAKE A BRIDGING LOAN TO COVER THE FEW DAYS BUT THE BUILDER HAS SAID THEY WILL COVER THE COSTS OF THIS BUT I AM NOT THAT IN THE KNOW ABOUT THE BRIDGING LOAN.
THE PROPERTY BUYING IS 139,000
MORTGAGE REQUIRE FROM LENDRS IS 112,000 FOR NEW PROPERTY
EXTRAS ON NEW HOME ARE 5,600
ITS JUST TO SEE THE ACTUAL AMOUNT I NEED TO BORROW ON BRIDGING LOAN IS IT THE 139,000 + 5,600
OR JUST THE DIFFERENCE FROM AMOUNT BORROWING FROM LENDER 27000 + 5,600.
SOMEONE HELP THANX.
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