Bridging loans or finance options

[Itstoofartorun]

DP and I currently both have our own houses. They are both on the market so we can buy somewhere together. Trying to sell the two is proving really difficult
Does anyone have experience of bridging loans or options for us to be able to proceed with just one being sold rather than both?

Yes, I took out a bridging loan to buy an auction property. It was actually much more straightforward than applying for a standard mortgage. I went for a 12-month term and opted to pay the interest upfront. I borrowed around £170,000, and with all the fees and interest, the total cost was about £20,000.
You don’t have to pay upfront, though—monthly interest payments are an option too. I used to find the idea of a bridging loan a bit intimidating, but in reality, it was pretty simple and worked well for my situation.

I don’t understand the issue. Why don’t you proceed with the sale of whichever one gets a good offer first, and take the other one off the market. Then you can both live in the house that isn’t for sale when the first one completes. Then put that one back on the market and at least you only have one house to sell at a time.

I too would just live in the one that’s slowest to sell and then treat it like any other house; if it’s not selling, address the issue, either drop the price or repair the parts of the house that are putting people off.

Is it possible you’ve over priced both?

Do you live in the same area?

I would never take a bridging loan out personally.

Neither would I take the risk of a bridging loan, especially in a slow property market.

Its a long distance relationship so for logistical reasons that will only work if my house sells first. We are just looking at options at the moment to try to be able to proceed with our purchase in either scenario.