Bridging Loan
Our Bridging Loan can help you bridge the finance gap between selling your current home and buying a new one, with short term finance of 6 months and no repayments necessary until the end of the loan term.
About this Rate
Bridging Loan - Owner Occupied Interest Rate
The rate shown is for new, owner occupied, bridging loans of $20,000 or more with up to 72% Loan to Value Ratio (LVR). What is LVR?
Learn more about how Bridging Loans work in our article What is a bridging loan?
*Comparison Rate based on a $150,000 loan over 25 years with monthly repayments. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amount might result in a different comparison rate.
Interest rates are subject to change without notice.
Bridging Loan Features
- Purchase your new home or investment property while your old home is still on the market.
- Borrow up to 72% LVR on the property being sold, with the Bridging Loan remaining separate and easily identifiable.
- Standard loan term of 6 months.
- No repayments necessary until the end of the loan term.
- Interest is calculated daily and added to the loan balance on the last day of each month. The full loan balance, including the interest charged over the loan term, is due to be repaid at the end of the standard loan term with the proceeds from the sale of your old home.
- No monthly loan service fee.
- Must be accompanied by a residual loan application.
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|---|---|---|
| Interest Rate | Comparison Rate | |
| Bridging Loan - Owner Occupied | ||
| Bridging Loan - Investment | ||
| Upfront Application Fee | $900 |
| Monthly Loan Service Fee | $0 |
| Valuation Fee |
The valuation fee on the house you are selling will be covered by Heritage, up to a maximum of $330. When combined with another Heritage loan type to purchase your new home there will be an additional valuation on your new property. This valuation fee will be payable by you. |
| Settlement Fee | $150 |
| Loan Finalisation Fee | $300 |
Other fees and charges may apply and will be outlined in your Credit Contract.
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