What is ANZ Bridging Finance?

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.

How does ANZ Bridging Finance work?

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.

Scenario 1 - 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.

Scenario 2 - 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).

Scenario 3 - 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.

ANZ Bridging Finance features at a glance
  • Flexible repayment options
  • Interest-only repayments during the bridging finance period
  • 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
  • Interest-only available for up to 10 years
  • Standard Loan Approval Fees apply.
Benefits of ANZ Bridging Finance
  • You are able to purchase a new property without having to sell your existing property first
  • If you are building a new property you may remain in your existing home until completion
  • A bridging loan term of six months means less pressure to sell quickly
  • ANZ Standard Variable Rate of interest applies instead of paying an inflated ‘bridging rate’, which means interest savings for you
  • Flexible repayment plan to suit your individual needs.
ANZ Deposit Bond

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.

Send us an enquiry

phone
Call us on 1800 100 641
8:00am to 9:30pm (AEST) Monday to Friday,
8:00am to 4:30pm (AEST) Saturdays and Sundays.

 

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