Buying a home can be beyond reach for many potential home buyers.
This is where EasyPlan Financial Services are invaluable. Our team can help you secure a bridging loan to assist you with your first or next property purchase.
How A Bridging Home Loan Works
A bridging loan literally ‘bridges’ your financial needs between the time you need to settle on a home purchase and the time your funds are available from the sale of your property. The sale of property can be an investment property or an existing home.
Bridging Loan Requirements
You will need to demonstrate that funds are forthcoming from one of the sources mentioned above.
You will also need to have savings for the difference in sales proceeds and the buying costs of the new property, or be qualified to secure additional loan funds to bridge the gap between sale and purchase.
A bridging loan can be a complex transaction involving multiple parties and multiple sets of documents. The timing is critical for the bridge loan to be available. This is where a trusted firm such as EasyPlan Financial Services will be able to provide you with the peace of mind necessary in what would otherwise be a potentially stressful transaction.