Bridging Loans

Many timeframes and closing dates are involved in the home-buying process, and many of them do not coincide, necessitating the need for additional funds. Have you bought a new house but not yet closed on your old one? By providing bridging loans, Mortgage Brokers Parramatta ensures that Sydney residents have access to the funds they require when buying or selling a house.

A bridging loan is exactly what it sounds like: a loan that bridges the gap between two points in time. It's a short-term loan that can be utilised to cover a variety of home-buying and selling expenses, pay off a debt, and get immediate cash flow for a period of time. For landlords, property developers, real estate speculators, and homeowners in the process of selling, it is a popular financing alternative. Bridging finance, in essence, supplies you with the funds you require but are unable to obtain through more typical borrowing channels (you are waiting for your house to sell or money to get freed up). It's secured by your current home, and the money can be utilised to put down on a new home. Because bridge loan interest rates vary, it's critical to engage with a broker, such as us, to ensure you get the best rates and conditions possible for the bridging period.

Real estate purchases and sales may not always go as easily as we would want. We provide a variety of bridging loans that can be customised to match your individual financial needs, whether you are waiting for your house to sell, purchasing a seasonal or holiday home, or awaiting funds from another source.

Mortgage Brokers Parramatta, as your alternative lending expert, offers a solution for you. With our bridging loans, you can move into your new ideal home up to 365 days before selling your old one. When applying for a bridging loan with us, no income or credit check is required. All you need is a formal purchase and sale agreement for the house you're selling, a firm purchase and sale agreement for the house you're purchasing, a statement of adjustments from your lawyer, and a moving truck to qualify for this sort of financing. That’s it!

Our mortgage experts value your business and are eager to assist you in obtaining the best bridging loans and other financial solutions. Please do not hesitate to contact us if you have any inquiries concerning a Bridging Loan.