Bridging Home Loan

Unfortunately a situation may arise when you are in the position when you are buying your new property but have not settled on your current. This is a common occurrence and the product to cater for this dilemma is called a bridging loan.

At bridging loan will provide finance for the GAP in between settlement and purchase. Basically the lender agrees to take on both mortgages for a small period, such as a few days or a few months.

The exercise is expensive however may be the only way, a means to an end. A borrower would need to show that they can service their existing mortgage and also the interest portion of the new home loan.

All standard fees and closing costs would apply to the new loan.

If you require a bridging loan, contact Internet Home Loans.