What is a Bridging Loan?
Bridging Loans or Bridging Finance
A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is generally secured against your current (not new) property as you are utilising the equity in your existing property.
Bridging loans are usually short term and more expensive than other types of loans. They come with some risk, so we always recommend to seek independent financial advice from our one of our experienced broker members before committing to this type of finance in Australia.