Bridging Loan

Sold my commercial property, intend to buy house then sell my present home.
Wanted a small [enough to cover Stamp Duty] bridging loan to cover me until my house sold, estimate at most 3 months, bank told me to look for a cheaper home :p Wanted money for buffer in case I see a house to buy which was a little more expensive.

Living expenses covered, however I am an older person with no income until my present home sells and I can invest money.

Anywhere else I can approach for a loan?

PS My health is good and I expect to live until at least next Xmas :D
 
Hiya

It's the no income obstacle that's getting in the way :-( Banks won't lend if servicing can't be proven.

I know, last year when discussing this with bank manager, was told probably OK, now it called 'responsible lending' - I do understand - just looking to see if there are any alternatives :)
 
You could always look at a Nodoc short term loan.

Wont be cheap but if it solves the problem and is only for a matter of months then maybe a solution to the problem.

Must admit since the tightening of lending criteria a few weeks back we are seeing an increased demand for such product.

Cheers
 
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