Picture this.
After several months of searching, your dream home is found.
The property market is very competitive. You need to act now.
But you haven’t completed the sale of your existing property. No worries.
Don’t rush to sell and accept a lower offer.
Simply organise a flexible bridging home loan.
It’s just one of the many features and benefits included in a tailored home loan from Loan Avenue – affordable home loan solutions for everyday Australians like you.
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Buy or build before you sell without the worry.
Whether buying or building a new home, a bridging home loan takes the hassle out of managing the transition from your old property without feeling pushed into selling.
Also known as bridging finance, a gap loan or go-between, bridging home loans are an easy way to purchase or build your dream home before you sell your existing property.
A key feature is no repayments are required on the new home loan for the bridging period.
Advantages of a bridging home loan.
- Buy or build a new home before you have sold your existing property
- Flexible, short-term solution
- No additional home loan repayments
- Interest capitalised on new home loan
- Avoid losing the dream home you want to buy
- Avoid having to rent during transition
- Keep normal benefits and features of a tailored home loan
- Less stress and worry
Bridging home loans explained.
If you are buying an existing home:
- A new home loan is established to purchase the new property.
- You continue to make repayments on your existing home loan.
No repayments are required on your new home loan for 6 months or until you sell your existing property, whichever occurs first. However, interest is charged to your new home loan.
If you are building a new home:
- A new home loan is established to purchase land (if required) and to cover the cost of construction.
- You continue to make repayments on your existing home loan.
No repayments are required on your new home loan for 12 months or until you sell your existing property, whichever occurs first. However, interest is charged to your new home loan.
Loan amount
You are not penalised for using the flexibility of a bridging home loan.
It is still possible to borrow up to 95% of the value of your new home, as long as the combined loans do not exceed 85% of the value of your new and existing properties.
Interest
Using the flexibility of a bridging home loan includes accessing all of our great term loan interest rate and repayment options, including a 100% home loan interest-offset account.
Sounds like a good idea and want to know the specifics?
All of your questions answered right here.
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No rush, no confusion.
There are many types of home loans. At Loan Avenue we know organising a new home loan is confusing as they all start to sound the same.
When it comes to bridging home loans, there’s no such thing as one size fits all. There are many subtle differences that work in your favour.
Managing two properties and two home loans means clearly understanding the products you are being offered.
To get the best result it’s important to talk to someone that understands your situation and can provide expert advice about your options.
We have a range of bridging home loan solutions that are well-designed, easy to understand and great value.
Let us show you. To make an appointment call 1300 56 26 28 or leave a message here.
