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Pros And Cons Of Bridging Loans.

Anyone who has sold a property with the intention of upgrading understands the frustration of not knowing whether to sell or buy first. While there’s no right or wrong answer, there are ways to help mitigate the stress of buying and selling through the use of a bridging loan.

A bridging loan allows you to acquire your next property before selling your current one, streamlining the transition between homes. However, bridging loans come with their own set of advantages and disadvantages.

What you need to consider.

Before taking on a bridging loan, it's vital to think about these different factors:

  • Interest rates: Compare the different interest rates offered by different lenders and consider a situation where you don’t sell your current home in time.
  • Loan term: Ensure the loan term aligns with the expected selling timeline for your current property.
  • Professional advice: Seek guidance from a mortgage broker who can help you navigate the complexities of bridging finance and assess your personal situation.

We do the hard work, so you don't have to.

It’s important to know your chances of success before applying which is where a finance broker can really help.


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