If you’d like to buy a new property before you sell your existing one, Bridging Finance could provide the funds you need to secure your new home.
Its suitable for customers who have sold their existing property (but not yet settled) and require finance for the deposit on a new property.
- Search for a new home with confidence, even if you haven’t settled on your existing property
- Choose between principal and interest, or interest-only repayments
- Use the proceeds from the sale of your home to reduce the balance on your bridging loan following settlement
- Make unlimited lump sum payments, depending on the terms of your finance (restrictions apply to Fixed Rate home loans).
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Customers should be aware that their existing home needs to be sold within 12-months from the disclosure date. The bridging period commences from the disclosure date recorded on the front page of the loan contract schedule. Viridian Line of Credit cannot be used for bridging finance.
Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Other fees and charges are payable.