BRIDGING FINANCE
IF YOU ARE BUYING OR SELLING YOUR FIRST OR NEXT HOME, TALK WITH THE BRIDGING HOME LOAN EXPERTS
Are you in need of a bridging loan to help you through a short term financial stretch? Bridging finance can give you time to plan, get a new job, defer interest or sell your existing home. With a mortgage broker that understands your financial situation and is experienced in arranging bridging finance in NZ, you can access the support and financial alleviation for your situation.
Bridging finance loans can either be closed bridging where you have already sold your existing property and want to purchase a new property before you receive the sale proceeds. Most lenders are more comfortable with these types of proposals as they know what date the loan will be repaid and the amount of net sale proceeds to expect.
In the current property market, we are also seeing some clients having to relist their properties when their unconditional Sale and Purchase Agreement falls over and they are caught in a stressful situation of having to settle on their next property in the interim.
An open bridging loan is where you are looking to sell your existing home but are yet to achieve a sale and want to purchase a new property whilst you are waiting. A bridging loan of this nature might be 6 to 12 months of interest only payments to allow you time to tidy up your current property and get a sale in place. An open bridging loan allows you to secure your next property without missing out.
Our team will discuss your time frames, current equity, value of your existing home, do you need to add a provision to cover interest and settlement date, if known. Then we work on the best options to increase your loan.
Our goal is to create a bridging finance solution that works for your situation, with repayments to be met from your own income, savings or an interest buffer. Get in touch with us today