Understanding bridging finance

Found the perfect new home? A Bridging Loan covers the time between buying a new property and settling on the sale of your existing one. 

All CommBank bridging loans have a set loan term of 12 months. 

Features & benefits

Flexibility

A Bridging Loan allows you to purchase a new home before finalising the sale of your existing one.

Convenience

Avoid having to rent somewhere because you’ve sold your current home before finding a new one.

Unlimited lump sum payments

Within the term of your loan. Note: You have up to 12 months to settle on your existing home and repay the bridging portion of the loan.

Important things to know

Fees & availability

A Bridging Loan is not available on all home loans, and you may incur some fees and charges depending on your loan type. 

Interest costs

A Bridging Loan is generally an Interest Only loan for the 12-month period. The longer it takes you to sell your current home, the longer you’ll be charged interest on the bridging finance. 

Timing

If you don’t sell your home in the agreed period, we may get involved to sell the property. You may be better off asking for an extended settlement period or selling your existing home first.

For more information, you can refer to our guide on Bridging Loans.

sold house

How to apply

Make an appointment with one of our Home Lending Specialists to discuss whether a Bridging Loan may be right for you and your circumstances.

Book appointment