Hi Everyone,
Are there any alternatives to bridging finance out there? I’m investigating buying a new PPOR and selling my existing one which I own outright with no debt on it. I also have about 250K in cash so perhaps I can use that and my existing PPOR as some form of security for a short term loan?
Thank you.
Yes the old fashioned bridging finance has come along way since the 80's when it was just that.
Many modern day products cater for clients who are buying one property prior to selling the other one with relocation loans where the interest is charged at standard rates and rolled up for say 6 months to give you chance to sell the property.
Personally i would avoid where possible short term loans as these are usually charged at a per month rate.
Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
