Bridging Loan
Buying and selling real estate doesn't always have perfect timing. If your client finds their dream home, but has not yet sold their current property, a Bridging Loan is a great short-term loan solution. We can help your client purchase their new home via bridging finance while finalising the sale of their existing property.
Bridging Loan
5.64
%
PA
5.72
%
PA
Comparison Rate *
Rates effective from 06/08/2019
- Option to make additional or lump sum repayments
- Minimum loan amount from $20,000
- Loan term - 6 months (12 months in exceptional circumstances)
- Interest Capitalised + no payments for loan term
- Introductory loan only (cannot switch into)
All Heritage Products have these great features
- Interest is calculated daily
- Direct Salary credit to loan
- Available for non-residents
- Transaction accounts which have free transactions
- LMI is applicable when LVR is more than 80%
- LMI can be capitalised - max 95% LVR for Owner Occupied loans and max 90% LVR for Investment loans
- Internet and phone banking are available
- Can switch between all products except into Living Equity and Bridging Loans
- Repayment method – minimum monthly repayment can be paid at any time during the month
- Additional repayments can be made, with no maximum repayment amounts
- Progressive Valuation Fees apply (excludes Living Equity and Bridging Loan) – ask your BDM