Renovations

Renovating can be a better option than buying a whole new property.
We seek an initial approval based on a cost estimate before you spend too much money or time on quotes and plans.
After an initial consultant we can even give you a budget based on your affordability.
Depending on the scale of renovations we can also structure the lending so you progressively have access to the funds as you go – saving you money in interest.

Buy after sale of your property (Closed Bridging)

Buying another property after your current home is sold is the easiest way in terms of lending! You have locked in the sale price for your house, and we know exactly how much you can afford to spend on our new home!

You can still purchase your next house before settlement of your existing property – the bank will fund this and you only have to show that you can afford the debt that will be left at the end.

Buy without Selling first (Open Bridging)

If you don’t want the hassle of finding short-term accommodation or want to find your dream home first before committing to selling your existing home – this is called open bridging.

The difficulty with this is that you need to show you can afford your current mortgage + all of the money you need to borrow for the new property. This is because there is no guaranteed sale on your property at this point in time. Very high household income is required for this option.

Buy New Home and keep existing as rental

This is very common particularly if your house has gone up in value or you have paid a reasonable amount off your mortgage.
It’s a great way to easily add a long term investment / income stream to your asset base and upgrade your home at the same time. It is one of the ways that many people make the step to becoming a property investor.