LCA - FAQ - Do I pay interest?

Depending on the bridging period you choose, interest may be charged. The interest charged during a bridging period is structured as follows: Months 1 to 3: No interest charged and no repayment required. Months 4 to 6: Interest charged monthly, interest will be capitalised (added) to principal loan amount, no repayment required. Months 7 to 12: (if 12 month bridging period selected) Monthly interest only repayments required.

Bridging Loan

Q: LCA - FAQ - What is the bridging period?

The bridging period refers to a maximum 6 or 12 month term , selected by you, between when you settle your new home (now) and when you sell your old one (later).

Want to buy now, sell later? Borrow up to 80% LVR.
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A home loan to help you buy before you sell

Our Bridging Loan lets you buy a new home now while you wait to sell your old one, later. It’s that easy. When you sell your old property, the sale funds are used to pay down your Bridging Loan, after which the loan remaining will convert to a standard variable home loan.

Our Bridging Loan gives you the flexibility to buy now and sell later. Enjoy the benefit of owning your new home today and the breathing space to sell your old home in the future, on your terms.

Why choose this loan?

3 months interest free

Pay absolutely no interest during the first 3 months

6 months no repayment

Make no repayments during the first 6 months

Flexible bridging period

Choose between 6 or 12 month bridging period

Buy now, sell later

Buy your new home now, sell your old one later

Sell at the right time

Sell your current property at any time within the bridging period

Don’t rent between homes

Live in your old property until your new home settles

Looking for flexibility to buy now and sell later?

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It's fast & easy to get a loan with loans.com.au

Apply online

Simply fill out your loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.

Speak to a specialist

You will then have a phone appointment with one of our lending specialists to finalise your application, and help you progress through the loan approval process through to settlement as quickly as possible.

Upload documents (OnTrack)

After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.

Settle

Your loan will settle, and you’ll enjoy your new loan rate.

Owner Occupier Rates

Repayment Type

Interest Only

Maximum LVR of 80%

Product	Interest rate from	Comparison rate
Bridging Loan	7.75% p.a.*^	6.31% p.a.*

Key Features

20% deposit minimum	Yes
6 or 12 months Bridging period	Yes
Fixed rate during the bridging period	Yes
No repayment required for the first 6 months	Yes
No monthly, ongoing, or settlement fees	Yes
Offset account available after bridging period	Yes
Free redraw on any additional repayments after bridging period	Yes

Fees

Application fee	$0
Ongoing fees	$0
Security assessment fee	$230^##
Government fees	At cost
Settlement fee	$0
Bridging Loan setup fee	2% of loan amount

Frequently asked questions

What is a Bridging Loan?

A Bridging Loan gives you the funds to buy a new home now while you work to sell your old one within a ‘bridging’ period of either 6 or 12 months, starting from when you settle your new property.

How does a Bridging Loan work?

The loan on your current home is refinanced and bundled with the loan amount of your new home to make the Bridging Loan. The bridging period of the loan exists until you sell your old home, at which point the sale funds are applied to reduce your loan, which then converts to a standard variable home loan against just your new property.

Can Bridging Loan be pre-approved?

Yes. You can apply for a pre-approval on your Bridging Loan.

How much deposit do I need?

You will need at least 20% deposit to be eligible.

How long do I have to sell my old home?

You can take 6 or 12 months to sell your home, depending on the bridging period you choose.

Who is eligible for a Bridging Loan?

Our Bridging Loan is available to customers who are selling their existing owner occupied or investment property, to purchase a new owner occupied property. The new purchase must be owner occupied.

What amount can I borrow?

You can borrow between $50,000 and $3,000,000.

What is the bridging period?

The bridging period refers to a maximum 6 or 12 month term, selected by you, between when you settle your new home (now) and when you sell your old one (later).

Do I pay interest during the bridging period?

Depending on the bridging period you choose, interest may be charged. The interest charged during a bridging period is structured as follows:

Months 1 to 3: No interest charged and no repayment required.
Months 4 to 6: Interest charged monthly, interest will be capitalised (added) to principal loan amount, no repayment required.
Months 7 to 12: (if 12 month bridging period selected) Monthly interest only repayments required.

Konnie

Lending Specialist

Real humans based in Brisbane, Australia

As an experienced lending specialist, Konnie and our team can answer all your questions to get you on track.

Let's talk

Looking for flexibility to buy now and sell later?

Find out if a Bridging Loan could be right for you.

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Bridging Loan

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A home loan to help you buy before you sell

Why choose this loan?

Work out your loan repayments

Your loan details

Variable Home Loan

Looking for flexibility to buy now and sell later?

“We found that loans.com.au still had a very competitive rate and we were happy with the service”

What other customers are saying

Our Google rating

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It's fast & easy to get a loan with loans.com.au

Need to know more? Here's the whole offer

Owner Occupier Rates

Repayment Type

Key Features

Fees

Frequently asked questions

What is a Bridging Loan?

How does a Bridging Loan work?

Can Bridging Loan be pre-approved?

How much deposit do I need?

How long do I have to sell my old home?

Who is eligible for a Bridging Loan?

What amount can I borrow?

What is the bridging period?

Do I pay interest during the bridging period?

Real humans based in Brisbane, Australia

Looking for flexibility to buy now and sell later?