Is a 2-bed flat a popular choice for buy to let investors?

[Loretta]

We have listed our 2-bed flat in High Barnet for sale and wondering what category of buyers may be most attracted to it. We need to sell quickly to complete on another purchase and also to release equity for further investment, but not sure whether first-time buyers may be the demographic to look for or whether to seek out buy to let investors for a quicker sale.
It would also be great to get some ideas to push the sale along...

 

[PostBrexitInvestor]

It is difficult to say without knowing more detail about the property whether it would be more attractive to a buy to let investor or a first-time buyer. Rather than pushing the sale as quickly as possible, have you thought of bridging finance which may ultimately save you a few pounds?

 

[Loretta]

It is difficult to say without knowing more detail about the property whether it would be more attractive to a buy to let investor or a first-time buyer. Rather than pushing the sale as quickly as possible, have you thought of bridging finance which may ultimately save you a few pounds?

How does bridging finance work? Does it replace a mortgage? We already have a conditional mortgage offer on the new purchase which pretty much requires us to have the equity from our sale

 

[FWL]

Bridging finance is fairly straightforward. It is basically a short-term loan provided on the basis that sale proceeds from the original property would be shortly forthcoming. Once the property has been sold, mortgage paid off then it is simply a case of refinancing the bridging loan into a new mortgage.