Dreaming of upgrading your Gold Coast lifestyle but worried about selling your current property first? Bridging finance could be the perfect solution. This innovative mortgage strategy allows you to secure your dream home before selling your existing one, eliminating the stress of rushing a sale or missing out on the perfect property.
How Does it Work?
Bridging finance essentially provides a short-term loan that “bridges” the gap between buying your new property and selling your old one. It allows you to access the equity in your current home to fund the purchase of your next, giving you the time and flexibility to sell your existing property for its true value.
Benefits of Bridging Finance:
- Secure your dream home: Don’t miss out on the perfect property while waiting to sell.
- Avoid the rental trap: Skip the hassle and expense of temporary accommodation.
- Negotiate from a position of strength: With financing in place, you can negotiate the best possible price for your new home.
- Take your time to sell: No pressure to accept a low offer on your existing property.
Is Bridging Finance Right for You?
Bridging finance can be a game-changer, but it’s essential to understand the implications. It involves managing two loans simultaneously, so careful consideration of your financial situation is crucial.
Working with a Mortgage Innovations – Navigating the complexities of bridging finance can be challenging. That’s where our Mortgage Innovations team come in. We can assess your individual circumstances, explain the options available, and help you find the most suitable bridging finance solution on the Gold Coast.
Key Considerations:
- Interest rates: Bridging loans may have higher interest rates than traditional mortgages.
- Loan terms: These loans are typically short-term, requiring the sale of your existing property within a specific timeframe.
- Repayment capacity: You’ll need to manage repayments on both your existing mortgage and the bridging loan.
Don’t let the sale of your current property hold you back from your dream home. Explore the possibilities of bridging finance with us today!
Arranging finance can be stressful, especially with some lenders now taking extra steps including going through your living expenses and credit scoring (ouch!). And sometimes banks can make you feel like ‘just a number’. That’s why we want to do things differently: because you deserve better.
As a local family-owned business, our team takes the time to listen, answer your questions and make getting your home, car or equipment loan as easy as possible.
