Do you need Bridging Finance
Bridging Finance is required when a temporary cash-flow problem arises, such as the common situation of having to wait to sell an existing property to cover the equity required to buy a new property.
Bridging Loans are a short-term funding solution that generally has a slightly higher interest rate than conventional mortgages, which reflects that the lender is taking a risk on the uncertainty of the existing property’s pending sale. The lender provides the funding on the basis that the property will be able to be sold quickly.
As an example, many people find themselves in the situation of buying a new property while simultaneously selling an existing property. The possibility exists that they’ll need to complete the purchase, but the funds from the sale of their existing property have not yet materialised, due to a delay in its sale. In this instance a lender may provide Bridging Finance, taking security over both the existing and the new property. Bridging loans are typically made on an interest-only basis for terms up to 12 months.
We can assist you to arrange a sensible bridging solution that meets your specific financial requirements. We can also assist with bad credit bridging loans.
If you need bridging finance or simply have questions, please contact us on 1300 011 211, or if you would prefer us to contact you please complete our online enquiry form
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