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).

Bridge the gap between buying and selling a home

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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.

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Apply online today. Or, one of our friendly lending specialists can do the hard work for you and manage your paperwork over the phone.

Either way, we can settle your loan quickly so you can start saving thousands sooner.

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Top reasons to 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 loan 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

Owner Occupier Rates

Repayment Type

Interest Only

Maximum LVR of 80%

Product	Interest rate from	Comparison rate
Bridging Loan	7.75% p.a.*^	6.08% 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

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Borrowing power

Calculate how much you can borrow in under 5 minutes. Simply fill in your income, expenses to estimate how much you can borrow for your home.

Stamp duty

Use this calculator to determine how much stamp duty you'll need to pay. Simply enter your location and the value of your home.

Our home loan application process

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Simply fill out your 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.

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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.

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

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How it works

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.

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