As a result, the equity in the existing home is not available to be applied against the purchase price of the property being purchased.  To solve this issue a home owner can apply to their bank to obtain “interim” or “bridge” financing.  The bank will lend money to the home owner on the promise that the loan will be paid back from the proceeds of the pending sale.  In this way, the equity that you have built in your current home can be utilized to purchase the home of your dreams.  If you have any questions regarding when interim or bridge financing may be required, or require the assistance of a lawyer to complete the paperwork necessary to obtain such financing, please call one of our experienced solicitors.