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Moment of the month - February 2022
Location: Wollongong, NSW
LVR: 51%
Loan Amount: $1.1M
Use of Funds: Downsizing
Scenario: This month we spotlight a Sydney property owner, Dora. Dora applied for a Bridgit loan needing access to fast bridging finance having already purchased a property due for settlement in under a month.
Thanks to our flexible lending criteria we were able to take Dora’s current situation including a change in employment and help her downsize to a stunning 3 Bedroom unit in Sydney’s South Coast.
We are thrilled to have helped another Aussie access the bridging finance they needed to settle on time and stress-free.
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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.