Bridging Finance
As a bridging loan expert, AUSUN Finance can help make your transition to a second home as smooth as possible. Bridging finance can be an ideal solution if you’re in the process of buying a new property but have yet to sell your existing one. With our expertise, we can help you access the funds you need so you don’t miss out on securing your dream home. Whether you’re upgrading, downsizing or moving to a new location, we can recommend tailored bridging finance solutions to suit your individual needs and timeline.What is a Bridging Loan?
A bridging loan, also known as a buy before you sell mortgage or a next home buyer mortgage in Melbourne, is a short-term financial solution designed to bridge the gap between the purchase of a new property and the sale of an existing one. It provides temporary funding, allowing you to access the capital required to secure your next property without waiting for your current home to sell. A bridge home loan is often used by homebuyers who want to avoid the stress and limitations of strict property sale timelines. These loans typically have a duration of a few months up to a year, offering flexibility until long-term financing is secured or the original property is sold.How We Can Assist with Bridging Finance
Finding the right bridging finance option is important to ensure a seamless transition when buying your second home. At AUSUN Finance, we understand that every situation is unique. We’ll assess your financial circumstances, provide access to our sell and buy home calculator, and help you explore suitable bridge loan options based on your specific needs. By partnering with a range of lenders, we can secure competitive rates and terms that align with your goals, as well as providing guidance throughout the process. Our aim is to help you to make well-informed decisions regarding financing when buying your next home.Consult with Us Today
Ready to buy your next home but need help finding a bridging loan in Melbourne? Contact AUSUN Finance for a personalised consultation to discuss your bridging finance needs.Frequently Asked Questions
A bridge loan is a short-term loan that provides financing to cover the period between purchasing a new home and selling your current property. It helps by providing quick access to funds, allowing you to buy your new home without waiting for the sale of your existing property.
When buying your second home, a bridge loan covers the gap between purchasing the new property and selling your current home. The loan amount is based on the equity in your current property, offering temporary funds until your existing home is sold and a long-term mortgage is secured.
When buying your next home in Melbourne, you should consider factors like market conditions, property values and financing options. You should also evaluate your financial situation and determine how much equity you have in your current home. A bridging loan or cross collateral loan could provide the flexibility needed to secure your next home.
A bridging loan in Melbourne provides short-term financing, enabling you to buy a new home before selling your current one. It offers temporary funds, often with interest-only payments, until your existing property is sold.
A sell and buy home calculator estimates the costs associated with selling your current home and purchasing a new one. It helps by providing an overview of potential profits, expenses and bridging loan requirements, allowing you to plan your finances more effectively.
Next home buyer loans in Melbourne offer flexibility and convenience, allowing buyers to secure their next property without waiting for a sale. These loans provide peace of mind and allow you to act quickly in a competitive market, minimising the risk of missing out on your ideal home.
Next home buyer mortgages typically offer higher borrowing limits and more flexible terms compared to first home loans. This is because they often consider the equity in your existing property, which can be used towards the down payment on your new home.
To qualify, you’ll generally need proof of income, a solid credit history and equity in your current property. Lenders will also assess your debt-to-income ratio to determine your ability to make repayments. AUSUN Finance can help you navigate these requirements and find the right loan for your situation.
Bridging finance provides a temporary loan, allowing you to buy a new property while awaiting the sale of your current one. The loan covers the gap period and is typically repaid once your existing home is sold.
Yes, a bridging loan is ideal for purchasing a second home in Melbourne. It offers quick access to funds, allowing you to secure a new property without the pressure of an immediate sale. This flexibility is especially beneficial in a competitive housing market.