Securing a tightly held land lease home with our single-security solution

Managing two property transactions can be overwhelming and expensive. 

But exiting the property market, spending on temporary accommodation, or dipping into super or investment portfolios isn’t the only way forward.

We helped a client secure a land lease retirement home, without needing to sell their current property first or liquidate millions in super and investments.

With our single security bridging loan, they were able to unlock their home equity and buy first - with no income verification, no monthly repayments, security on their existing property only, and approvals in hours.

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Let’s take a closer look at their single security bridging loan:

• Loan amount: $634,400
• Market value of outgoing property: $2,250,000
• LVR: 28.23%
• Loan term: 12 months
• Exit strategy: Sell existing home rather than liquidate investments

The bridging process was smooth and efficient:

• Conditional approval within hours of application
• Settlement within four weeks, meeting their timeframe comfortably.
• Completed the sale of their home and discharged the loan within one month
• No remaining loan balance, meaning they were mortgage free in their new property.

With our team of experts providing guidance and quick timelines, the clients successfully secured their dream retirement home and enjoyed a smooth, stress-free transition. 

Do you have a client looking to secure a tightly-held retirement home? Discover how a Bridgit bridging loan could help. Schedule a call today and workshop a scenario with one of our specialists.