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Buy now, Sell Later!!

You wanted to upsize your property, and you have found the property that you like, but you still haven't sold your old property yet. Bridging finance could be the answer that helps you keep the ball rolling.

When selling one property and buying another property at the same time can quite a daunting and emotional process, especially when the timelines of both projects don't work out correctly.

A bridging loan is usually just an extension of the loan amount on a regular home loan, and it can cover the purchase price of a new property while your old one is selling. Bridging loans allow you to buy your new property now and it can up to 6 or 12 months bridging loan period to sell your existing property. It depends on which lender you choose.

Some lenders offer interest-only repayments during bridging loans period, they allowing the borrowers to get into their new home sooner without having to start paying off a full mortgage before selling the old one. While other lenders allow the borrowers no repayment during the bridging loan period, all interest charge during the bridging period will capitalize into their bridging loans.

Once you have sold your old property, the funds will be first to pay off the old property home loan, and any sufficient funds will be paid into the bridging home loan.

If you have found the property that you like, but you still haven't sell your existing property, please talk to Kevin Poh on 0415820016. He will help you apply for a bridging loan, so you can purchase your dream home now while you have up to 12 months to sell your existing property.

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