Withdraw money from your home, if and when you need it
On day one we put aside an advance amount, and sell your home for the best possible price. We are considerably cheaper than a bridging loan
What is a bridging loan?
A bridging loan is often used to bridge the gap between selling your existing home and purchasing your next one. It runs separately to your estate agency agreement, and has a separate arrangement fee (typically 2%) along with a monthly interest rate (typically between 0.75% to 1.5% per month)
Why use bridging finance?
Many people use bridging finance so they can complete on the purchase of their new home, before completing on the sale of their old one. At Nested, we don’t believe bridging finance is a good option for consumers, due to the lack of certainty over how long it takes to sell your home and how much interest you’ll need to pay
What is Nested?
We do everything you expect from a full-service estate agent. In addition we put aside an advance that is on average 95% of your current home's value. You can withdraw the advance if and when you need to
3 reasons why Nested is better than a bridging loan
On top of an advance, we offer the best service around
It will cost you less
Bridging loans typically have an arrangement fee of 1-2% and a monthly interest rate of 0.75%-1.5%. On top of this you'll often have estate agency fees to pay. With Nested, our fees (incl. VAT) are 2.5% or 3.5%. You can access up to 95% of the value of your home for free, if and when you need to
Money when you need it
With Nested, the advance is there for you to use when you need it. Unlike a bridging loan you have certainty of your maximum cost, and you are not paying a daily rate
We combine everything you expect from a full-service estate agency. We're responsible for getting you the best price for your home, and our expert sales team have an average of 9 years experience selling residential homes. Our marketing strategy starts with an accurate valuation, and we are honest and transparent about what we think is best
Our Trustpilot reviews
Our customers say more about us than we could
“Just sold my house with Nested and could not be happier. The process was smooth and swift.”
“A friend suggested them to me when I was having trouble selling through my traditional agent, and I'm so glad she did.”
“Nothing other than the Nested model would have allowed us to be living where we are.”
Bridging loans FAQs
How much do bridging loans cost?
Bridging loans typically have an arrangement fee of 2%, and interest rates of between 0.5% and 1.5% per month (6% to 12% per year).
On a bridging loan of £500,000, this equates to about:
- £21,000 if your property sells in 3 months time
- £33,000 if your property sells in 6 months time
- £56,000 if your property sells in 12 months time
The above assumes a 2% arrangement fee and a 0.75% monthly interest rate. Consult a bridging loan calculator to find out how much a bridging loan will cost you.
Why is Nested better than bridging finance?
At Nested, we believe bridging loans are a poor option for funding the purchase of your next home. There are heavy arrangement fees and high interest rates. If your property doesn’t sell for a long amount of time, you could end up with a crippling and unexpectedly large bill.
On top of that, you’ll still need to pay your normal estate agency fees, and your agent may not be incentivised in the same way to sell on a rapid timeline (also, any offers you receive on your property may still fall through due to chain or other complications).
We believe our advance provides you with a fairer way to move, and we give you flexibility to choose your timelines. We’re an estate agent with a difference and you can withdraw money, if and when you need it:
- We’ll give you up to 10% of the value of your home whenever you need it, to fund the deposit on your next home.
- We can pay you the advance with zero interest. And if your home sells for less than the advance, we’ll cover the shortfall ourselves so you can move on with certainty.
You’ll pay our standard estate agency fees, which are designed to incentivise us to get the best price on the right timeline.
What’s the maximum loan to value (LTV)?
A bridging loan provider will typically offer you up to 80% of the value of your home.
Nested is an alternative to bridging loans, so there is no such thing as a maximum LTV. We advance on average 95% of the value of your property.
Are you FCA regulated?
Yes. Nested is fully regulated by the Financial Conduct Authority.
What about the second home stamp duty surcharge?
If the payment of your advance results in you needing to pay the second home stamp duty surcharge, we’ll cover this on your behalf until the sale of your original home completes. A typical bridging loan provider will not cover this for you, so you may need to take out additional finance for it.
Got any more questions?
Selling your home can be a stressful, tiring and confusing process. At Nested, we try to take all of that pain away by giving you flexibility from day one.
If you’re still not sure how we can help you, give us a call on 020 3858 0695