Sir, – Will we ever see the reintroduction of bridging finance to be availed of when moving house?
The lack of it has resulted in people having to put their house on the market and go “sale agreed” before they can even bid on a new property. Or, indeed, sell and then rent until something comes to the market which fits their requirements. Who in their right mind would choose to do that!
There must be a large number of house-owners who, having raised their families, would like to move from their family home into accommodation which would be more suitable.
However, the lack of bridging finance to facilitate the move is resulting in them remaining in their homes, thereby reducing the availability of family homes coming to the market.
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This results in other families being “stuck” in accommodation which is too small for their needs which in turn results in reducing the properties available to first-time buyers. This then puts added pressure on the rental market.
It’s a vicious circle! – Yours, etc,
S FINLAY,
Blackrock,
Co Dublin.