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How bridging finance can support clients navigating marital separation
Picture this: your clients are separating and need to sell their shared property.
We recently helped a couple navigate this exact scenario.
Within a 30 day timeframe, the pair needed to purchase two separate retirement units and navigate the legal and financial complexities of marital separation (such as paying for independent legal advice).
However, working with Bridgit meant waiting for their existing property to sell wasn’t their only option.
With bridging finance, the clients could both secure their new retirement homes and ensure their separation agreement was honoured with a structured, fair and transparent distribution of funds.
Here’s how we made it happen:
- Bridgit’s single-security bridging loan, secured against their existing shared property, provided funding for two separate purchases on different settlement days, allowing both clients to move forward independently.
- Bridgit funded the purchase of the first retirement unit while holding the remaining funds in the solicitor’s trust account until the second property reached settlement.
- The solicitor managed the surplus funds, ensuring they were distributed in line with the financial agreement once the shared property was sold.
Let’s take a closer look at the loan scenario:
- LVR: 71.35%
- Loan amount: $921,800
- Loan purpose: Marital separation, purchase of 2 x units before selling
- Loan term: 12 months
The result was a smooth, secure process that offered peace of mind during an incredibly challenging life transition.
"Marital separation can be a difficult and emotional time, and clients need financial solutions that provide certainty and flexibility. In this case, our bridging loan gave both parties the freedom to secure their new homes on their own terms. It’s all about making complex transitions smoother for clients."
- Jolene Farrow, QLD BDM
Do you have a client navigating marital separation who might benefit from Bridgit’s bridging loan? Schedule a call today and workshop a scenario with one of our specialists.
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Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.
1The Stay Rate will only apply if a repayment is made from the sale of Outgoing Properties (or another repayment method approved by us, at our discretion) and the repayment reduces the Amount You Owe to an amount that is equal to or less than your Residual Loan Balance.
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. For Upsizer loans, a Bridge Rate applies for the first 12 months, followed by a Stay Rate thereafter. For Downsizer loans, only the Bridge Rate applies. WARNING: This comparison rate is true only for the example provided and may not include all fees and charges. Different loan amounts, terms, or fee structures will result in different comparison rates. For interest-only periods, your loan balance does not reduce, meaning you may pay more interest over the life of the loan. Set-up fee from 0.60% and government charges apply.