Purchasing overseas property with a UK mortgage or loan is often challenging, but a bridging loan can be the exception. The key is to have UK property to secure the loan against.

In this case, our client had two valuable UK properties to use as security—a £2.5 million unencumbered London home and a separate £1.5 million London flat. These properties served as a safety net for the bridging loan, providing the lender with confidence.

While our client had both properties on the market as part of their exit plan, they were also in the process of selling a portion of their business, which would serve as their preferred repayment strategy if completed in time.

Despite the complexities of buying property in South Africa, known for its challenges in mortgage lending, we worked closely with a lender comfortable with the large loan size. We orchestrated a swift 9-week completion, ensuring our client met their deadline.

Due to the loan being secured against two properties and maintaining a comfortable loan-to-value ratio of 30%, we secured the most favourable interest rate possible, despite the intricacies of the deal. To streamline the process and reduce costs, we obtained online valuations for both UK properties, a rarity for properties of this value. This eliminated the need for a surveyor and resulted in significant cost savings.

In the end, our client secured their dream property in South Africa, showcasing how bridging loans, combined with expert guidance, can turn international property aspirations into reality.

If you're considering a similar property investment, our team at Bridging Loans Direct is here to provide tailored solutions that fit your unique situation. Contact us today for a free consultation and take the first step towards making your property dreams come true.