As you get older, you may decide to have a family and before you know it, you've outgrown your first home. Let us take the stress away from having to juggle life, mortgages and kids by doing the heavy-lifting of finding the home loan to suit your needs.
Securing your second home will follow a similar process to when you purchased your first home. Your financial status will need to be evaluated in order to estimate your borrowing capacity and this evaluation will take into account your present house loan payback obligations. Then there's the awkward transition between old to new. Eek! Enter Bridging Loans!
Bridging loans are a type of short term loan that provides you with quick access to funds to purchase a second property whilst you are trying to sell your current home. Borrowers use the equity of the current home as a down payment on the purchase of a new home.
Typically, features of a bridging loan are:
The process of selling your current home and transitioning to your dream home may feel like trekking through mountains of paperwork but we are here to make sure that it will feel like a stroll through a park.
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Authorised Credit Representative of Finsure Finance & Insurance Pty Ltd. ABN 72 068 153 926. Australian Credit Licence Number 384704.
We acknowledge the Traditional Owners of the many lands where we live and work and pay our respects to Elders past, present, and emerging. We celebrate the stories, culture and traditions of Aboriginal and Torres Straits Islander Elders of all communities from the many lands where we live, work and gather.
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