| Why would I want a Bridging Loan? |
Short term funding pending sale of property, receipt of other lump sum due to you, renovations, purchasing other properties, cash out the equity of your property for any personal reasons or any other emergency purposes. |
| How much can we lend you? |
We lend from $500 to $30,000. |
| How much can we lend against your
property? |
General rule of thumb we can lend up to a maximum of 75 -85% of government valuation or registered valuation on residential or commercial property. The figure is subject to change on the basis of our discretion. |
| How long you get to pay us back? |
From 1 month to a maximum term of 60 months. |
| What will it cost ? |
Documentation and loan establishment fees, mortgage discharge fees and an administration fees may apply but this can be added to the loan amount.
Some documents may require our solicitor to prepare and you will be responsible for the solicitor’s cost. |
| Interest rates |
Competitive interest rates. The interest rates vary and determine on a case-by-case basis depending on individual circumstances such as types of security offer, security margin and credit history. In short the lower the risk we perceive on the loan, the lower the interest rate it will be. |
| Loan Protection Insurance |
Insurance for extra peace of mind so that your
minimum loan repayments are covered. Its optional!
Covered events can include:
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Death |
| • |
Illness |
| • |
Accident |
| • |
Redundancy |
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| Documentation/Proofs |
You will be asked for the following information: Driver Licence & Passport, Pay Slip or Financial Statements, Valuation Report, Mortgage Statements, Sale & purchase agreements, Bank Statements, solicitor’s contact details etc |
| Approvals |
Approvals or disapprovals can often be made instantly. If the loan is approved then generally an hour to a day is needed to prepare all the necessary documents. Upon all the loan contracts and other documents are signed the money will then be credited to the nominated account. |
