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Investment property settlement in three days
How Bridgit helped settle an investment property purchase in three days
The fast-moving world of real estate waits for no one, and timing is often the key to securing your dream property. Broker Linda Hulme’s client experienced this first hand, needing funding fast to seize an ideal off-the-plan investment property opportunity.
With Linda’s client needing a swift solution to secure the property, she reached out to her Bridgit BDM for support.
Understanding the urgency, the Bridgit team jumped on the case, providing Linda’s client with a single-security, no-end-debt bridging loan that was ready to be funded in just three days.
Linda’s client was not only able to proceed with her purchase but also was given the breathing room to sell her existing investment property on her own timeline.
Let’s take a closer look at the loan:
- Property location: Main Beach, QLD
- LVR: 71.77%
- Loan amount: $842,600
- Loan purpose: Downsize of investment properties
- Loan term: 6 months
Linda was delighted to be able to help her client who was looking to take advantage of an opportunity:
The Bridgit team were extremely fast and proactive in providing a solution to help my client settle on an off the plan purchase. The speed was second to none, the application was submitted and ready to be funded within 3 business days. The experience completely exceeded my expectations. The support from the BDM Nik Thurgood and the entire team was exceptional. I will look to work with Bridgit on any future bridging deals that come across my desk.
Do you have a client who might benefit from Bridgit’s single-security 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.