Bridging loans used to solve problems caused by ‘brexit’ options being invoked

During the lead up to the referendum there were property sales agreed and contracts exchanged that contained ‘Brexit Clauses’. This allowed the buyers to have the option to withdraw from the purchase in the event of a leave vote.

Following the vote to leave some buyers have invoked this clause, leaving many sellers unable to complete on purchases that they are committed to, or don’t want to lose.

Since the UK voted to leave the EU we have received several applications for bridging finance from people effected by ‘Brexit Clauses’. As a solution we have been arranging bridging loans to provide the required funds to maintain sale chains, until replacement buyers can be found.