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BSB 650 000

Buying before selling?
What about a Bridging Loan.

4.50
%
P.A.
Bridging Loan^
4.54
%
P.A.
Comparison Rate**
Enquire now

 

Bridging Loan

A Bridging Loan covers the period of time between buying a new home and selling your existing property. It provides a financial buffer so that you don’t have to rush the settlement of your current home or rent somewhere until you find a new one.

Our maximum Bridging Loan term of 12 months will give you the flexibility to sell your old property while living in your new home. With our competitive fixed rate, you can relax and enjoy the certainty of knowing your rate won’t increase during the Bridging Loan period.

  • Better value banking icon Flexibility No repayments during the 12 month Bridging Loan period.
  • Banking anywhere Fixed rate Certainty that your rate won’t change during the term of your Bridging Loan.
  • Clock icon Convenience Avoid the costs of renting by not having to sell your existing home first.
  • npbs icon Additional Repayments You may also redraw available funds if you need them.

"Based on interest rates, products and flexibility, Newcastle Permanent was way ahead of the other banks for us." -Molly and Michael.

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Information and features

  • Consider this

    Important things to consider

    1. If your existing property sells for less than you expect, you could be left with a higher remaining loan balance.
    2. The longer it takes to sell your existing property will mean the more interest you may pay on your Bridging Loan.
    3. Bridging Loans are for a maximum 12 month period, failure to sell your loan in this time could see us step in to assist with selling the property.^

    Download our Bridging Loan guide for further information or see all interest rates.

  • Loan features

    Bridging loan features
    Maximum Loan Term 12 months
    Redraw Facility Yes
    Repayment Options Interest only (deferred for 12 months)
    Split loan No
    Interest Offset Account No
    Annual Fee Nil
    Establishment Fee $595
    Monthly Fee Nil

    Mortgage Fees & Charges - PDF 113kb  

Interest rates effective as of 18/06/2021 and are subject to change without prior notice.
Applications are subject to credit approval. Full terms and conditions will be included with our loan offer. Fees and charges are payable.
^Bridging loan The maximum term for a Bridging Loan is 12 months. If you can’t sell your current property within 12 months of funding the Bridging Loan we may treat this as default of the loan terms and take action to ensure the sale of the property. You may be required to pay a 2% higher rate until the default is resolved.
**The Comparison Rate is calculated on a loan amount of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.