Bridging Loans | APEX Financial Services Group

Don’t have the funds yet
to buy a new property?

A bridging loan might be just for you!

Don’t have the funds yet
to buy a new property?

A bridging loan might be just for you!

What is a bridging loan?

A bridging loan may be necessary to cover the financial gap when buying one property before your existing one is sold. This finance is secured against the existing property (utilising equity) and the new property being purchased. Usually, bridging loans are short term (normally 6 months) to allow for the sale of the original property and more expensive than other types of loans. There are alternative ways to finance a change from one home to another, so please talk with us to discuss your options.

Get in touch

What is a bridging loan?

A bridging loan may be necessary to cover the financial gap when buying one property before your existing one is sold. This finance is secured against the existing property (utilising equity) and the new property being purchased. Usually, bridging loans are short term (normally 6 months) to allow for the sale of the original property and more expensive than other types of loans. There are alternative ways to finance a change from one home to another, so please talk with us to discuss your options.

Get in touch

Industry of experts

Ongoing support

30 years experience

Industry of experts

Ongoing support

30 years experience

Industry of experts

Ongoing support

Are you eligible for a bridging loan?

Here are some of the main requirements that lenders may ask for when assessing your eligibility for a bridging loan.

High likelihood that your current property will be sold during the bridging loan term.
High level of equity in your current property.
Your lender may only offer bridging loans to existing customers with an existing loan.
You have the capacity to cover at least interest-only payments on your peak debt until your current property is sold.
If you are a PAYG income earner, you may need to prove you have been employed for 6 months with proof of 2 months pay.
For self-employed, you may need to provide an Accountant declaration and 2 years of tax returns.