Bridging loans are designed to bridge the gap for borrowers who have bought a new property, and are yet to sell their existing property. This is a short-term finance solution to help borrowers cover costs until their existing property has been sold.
A bridging loan is interest-only and will generally be secured against the property. Interest rates on bridging loans are usually comparable to standard home loans, but bear in mind you are essentially covering two mortgages, and not paying off any of the principal.
Why choose Lend Me?
When you choose Lend Me, you are not alone. We make it our business to make the home loan process as easy as possible, helping you to work out what you need, searching for the best home loans Australia has to offer, and then helping you through the often complicated application process.
When we search for home loans, we cut out that time-consuming search for you. We search the best home loans on the market, from smaller lenders all the way through to the big banks. Each lender has its own way of doing things, so we make sure you do it their way, increasing your chances of getting the home loan you want.
Unlike other brokers Lend Me offers Personal, Auto and Property loans. When you choose Lend Me, we come to you, any time anywhere! We provide you with a one-stop shop for all your lending questions, and will happily guide you through each step – from application to approval.
For more exact expert advice, please get in touch with our team today.