You may have found your dream home but have not yet managed to sell your
existing property. Without the proceeds from the sale of your current
property, how can you afford to buy the new one?
ANZ Bridging Finance enables you to purchase a new property whilst you
await the sale of your existing property. In this way, ANZ is able to
help you buy the property you want, when you want it.
ANZ offers you financial assistance that is customised to meet your
individual needs. The following scenarios illustrate how ANZ Bridging
Finance can work for you.
- You may have an existing home
loan with ANZ and require finance to meet the short term gap in the
timing between receiving the funds from the sale of your home and
buying a new property i.e. your sales and purchase settlements are
on different days. To meet this short-term need, ANZ can increase
your existing home loan to include the amount required for the
new purchase. If you also require ongoing finance for the new property,
ANZ can offer you a new home loan to meet your longer-term requirements.
- You may require funds for a
short period of time to purchase a new property, and then plan to
repay the loan in full from the proceeds of the sale of your present
property. To facilitate this, ANZ could provide a home loan with a term
of six months (12 months if your new property is being constructed).
- You may have an existing home
loan with another financial institution and want ANZ to manage your
bridging finance needs. To assist with this, your existing loan will
be transferred to ANZ and depending on your requirements, ANZ can offer
you one of the solutions outlined above.
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Flexible repayment options.
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Interest-only repayments during the bridging finance period.
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Upon receiving the proceeds from the sale of the current property
and clearance of the bridging finance loan, the remaining home
loan can revert to principal and interest repayments payable
weekly, fortnightly or monthly.
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Interest-only available for up to 10 years.
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Standard Loan Approval Fees apply.
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You are able to purchase a new property without having to sell
your existing property first.
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If you are building a new property you may remain in your existing
home until completion.
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A bridging loan term of six to 12 months means less pressure to
sell quickly.
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ANZ Standard Variable Rate of interest applies instead of paying
an inflated ‘bridging rate’, which means interest savings for you.
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Flexible repayment plan to suit your individual needs.
An
ANZ Deposit Bond
helps you put down a deposit on your home without having to arrange your
own funds in time to sign the contracts. An ANZ Deposit Bond is perfect
for home buyers who have their cash tied up in investment or property.
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