Need finance to cover the period between buying your new property and selling your old one? A bridging loan, or bridging finance, may be the answer. A Smartline mortgage broker help you make that decision wisely.
Why get a bridging loan?
If you’re trying to sell and buy homes at the same time, this loan will cover both your existing and new debt. It’s a short-term option, usually for six to 12 months.
What type of loans are they?
They are offered at the standard variable rate. Each lender assesses bridging loans differently, and offers unique loan features, conditions and structures. So it pays to have a mortgage expert help you out.
Can anyone get a bridging loan?
There’s one bridging loan requirement every lender has in common – you need to have significant equity in your property. A Smartline mortgage broker can let you know if you’re eligible.