Moving to a new home

Purchasing a new home but haven't sold the one you have? For new home finance solutions contact Internet Home Loans bridging finance home loan brokers. The main benefit of bridging finance is the ability to purchase a new property prior to sale of your existing property. Usually, you will have a period of to 6 months – 12 months where either minimal (interest only) or no (interest capitalised) repayments are required. You can take possession of your property giving you extra time to pursue a higher sale price for your existing property.

Bridging home loans will not suit all applicants. There are other strategies that can be employed including turning your existing property into an investment property. This may require a refinance of your current home loan to suitable investment home loan product. During the home loan refinance process, funds are released to cover deposit and costs for your new property. Placing a tenant in your current property plus the add backs possible with estimated taxation write offs can significantly increase your home loan borrowing capacity.

We always recommend you consult your accountant or financial adviser when considering investment home loan options.