Are you looking to buy a new property while you sell your existing one? Or maybe you haven’t sold your existing home before your new home settles? Either way, we can help make this easier for you.
A bridging loan ‘bridges’ the gap between two home loans by financing the purchase of your new property while your existing property is being sold. An arrangement like this allows you to have temporary ownership of both properties; until you dispose of your current property, you will continue to pay the mortgage on your existing home as well as the interest on the finance for the new home. The purpose of this loan is to buy you time, and save you from the inconvenience of renting between homes, it also allows you to efficiently maximise the sale price of your property rather than urgently selling it.
We can help you find bridging finance to meet your individual needs, whether that’s short-term finance or longer if your new property is being constructed. Contact us, we’d love to hear from you.