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Expat Bridging Loan

Regulated bridging loan completed during the Covid-19 pandemic for a client relocating back to the UK from the USA, where he was still living and had lived for many years, The client was in the process of returning from the US back to the UK.

He had an offer accepted on a house in Wales and was about to put his US house on the market when Covid-19 arose. He expected to cover most of the purchase price by liquidating investments but needed a bridge to cover the costs of relocation and some essential work on the property before his house in the US sold. The client required a £75,000 bridging loan which would be secured on the new property, which was purchased for £245,000
Repayment of the bridging loan would be by the sale of his US property.


UKPF were able to access the best rate available in the market for the client’s circumstances. The chosen lender was also able to offer an FCA regulated bridge for a client who was not currently living in the UK, had not lived in the UK for many years but would be returning to resume UK residency.

The client received all the finance documents by email, printed them out, signed, scanned and return emailed them to UKPF. UKPF then submitted to the lender for underwriting without delay.

Although underwriting was completed and the case passed to offer, major issues resulted because of the Covid-19 pandemic. The client’s investments were impacted badly by the turmoil in global stock markets and due to travel restrictions, he was unable to return to the UK to conduct the legal requirements of the case. Throughout the process the UKPF team worked diligently with all parties and dealt efficiently with the numerous problems that arose as the case progressed.

UKPF, the lender and both sets of solicitors veered away from normal protocols and agreed a way in which the client could complete his legal obligations whilst remaining in the US, thus allowing the case to move forward to completion.

Thankfully, all parties showed great flexibility and a can-do attitude to complete the case and at no time was it ever accepted that the case could not be moved forward to completion. The dedicated case worker at UKPF ensured there was a joined-up approach to every issue arising and was dealt with in the same manner as all communication that was received.

Although by the time of completion, all parties were working remotely, our systems are designed to be flexible and our cloud-based case management software allowed our team to have up to the minute information to monitor all our cases.

The case completed just as the lockdown restrictions were beginning to ease and as soon as it is safe to do so our client will now be able to move into his new home.

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The advice and processing on all financial products introduced via this website will be handled by UK Property Finance Ltd, which is authorised by The Financial Conduct Authority (FCA) no 667602. The FCA do not regulate all mortgages such as Buy to Let and Commercial. Think carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Association of Bridging Professionals
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