Bridging Home Loans - Buy Before You Sell
Bridging home loans are the loans used by the ones wanting to build their new homes. Many people at the time of selling their old houses get shifted to rented accommodations till the time the new property gets completed which makes them undergo a second round of shifting. This is indeed exhausting at the same time causes big bucks.
But bridging loans, instead give you the opportunity to stay some time at your old accommodation, while waiting for the new home to get completed. It limits the gap between shifting from your old house to new house. The process and mode of repayment differ according to the type of lender, but often, the payment mode is interest only.
The use of bridging loans comes into use at the time of selling off and purchasing a place to live. Being a good source of credit repair and cash flow, the loan process is speedy yet convenient. It is the ideal solution for all kinds of properties that include residential, semi residential, commercial. It is far away from the rigid banking application criteria and is seen as an alternative source for rapid funding.
The simple way to learn about the unidentified clutters behind bridging loans is to contact Aussie Financials expert brokers. They advice you on the right loan type suiting your requirements and needs at the moment. Our approach remains to find the most appropriate mortgage product.
All we need is the applicant’s time to do a little bit of necessary paperwork, provide payslips, identification documents and other necessary formalities. We aim to help you within your financial needs and to sustain long term relationships with customers. As mortgage lenders it is our responsibility to keep our customers informed as well as updated regarding the bank application procedures.