It is at times a very misunderstood and maligned home loan product.
If you are in a situation where you desire to secure another property but you do not have the financial resources on tap, nor deposit and you are selling your current home. Then this loan product covers that scenario.
You will be surprised just how seamless obtaining a TRUE bridging home loan is and how inexpensive they are nowadays.
Unfortunately some mainstream lenders promote a bridging loan which in fact by its repayment plan is not a bridging loan.
We consider a TRUE bridging loan is one which allows the interest expense to capitalise OR allows the interest expense to be paid monthly, OR allows for some principal & interest repayments. It may or may not have a residual debt.
Application and processing fees, as well as the interest rate, is not dissimilar to a normal home loan.
CARE: It is extremely important to use us if you plan taking out a Bridging Loan. Going directly to your lender may not provide all the, flexibility, options and pricing available in the market.