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Moment of the month - November 2021
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Location: Westlake, QLD
LVR: 75%
Loan Amount: $1.2M
Use of Funds: Upsizing
Scenario: The month of November was an exciting one here at Bridgit as we financed our first upsizer! Ben came to Bridgit after he found his perfect dream home in Westlake, Qld. With more space and a large backyard with a pool for the kids to play in, this is the home he wanted his family to grow into. It’s conveniently located 3 minutes from grocery stores and a short drive from Brisbane CBD.
Ben didn’t want to miss out on his dream family home, so he immediately put a deposit down. However, he was yet to place his existing property on sale and therefore needed fast finance. After applying online, Ben received same-day approval, had valuations complete, and the interest-free loan settled in just over a week.
We are thrilled to help another homeowner purchase their dream home. Thanks Ben, and congratulations.
“Firstly, I wanted to say thank you for all of your help leading up to settlement. I really appreciate you taking the time to run through things with me and giving me piece of mind around the transaction.” – Ben
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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.