Non Bank bridging finance solutions for you
Bridging finance is most commonly use to bridge the gap, as you have bought one home prior to selling your existing home. Whilst the banks may assist if you have sold your home unconditionally, this is not always the case. We have helped many clients who wish to buy a new home and once they have moved into it, then place previous home on the market. Or they purchased expecting to sell quickly, but this did not eventuate or a conditional sale fell through.
With good equity there is usually a way we can help. In addition, the interest cost can often be included in the loan, so you are not caught trying to pay two home loans.
So bridging finance is a temporary fix, you may have issues with your current lender, as they want you to refinance, or they will force a sale. We can often help by refinancing for a short period to allow you time to sell without the dreaded “Mortgagee Sale” tag which can take thousands off your sale price and advertises your financial position to the world.
If you would like to know more about bridging finance with Non Banks, then give us a call today. We will chat about what you would like to do and see if we can find an effective solution that fits your personal circumstances.