Our team of bridging specialists are here to help
Moment of the month - January 2022
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Location: Jimboomba, QLD
LVR: 60%
Loan Amount: $964,000
Use of Funds: Buy now sell later
Scenario: This month, we spotlight a recently accredited broker and their client. After waiting months for loan approval with her current lender, the Aussie homeowner was about to lose her dream property along with the already paid deposit.
In most Australian states, a two-week grace period is given if a property settlement deadline cannot be met in time, however, at this time in Queensland, the contract could be terminated immediately, meaning would lose everything.
Due to these time constraints, waiting for the traditional lender to approve the bridging loan was not an option. Within just 24hrs of reaching out to Bridgit, we were able to accredit the broker, offer unconditional approval, and our customer was able to secure her dream home.
We couldn’t be happier to help another Aussie access fast bridging finance and purchase her Jimboomba property!
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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.