Bridging Loans
Merrick Malouf
Managing Director & Founder | Lender for business loans, caveat loans,1st and 2nd mortgages.
A sum of money lent by a lender to cover an interval between two transactions, typically the buying of one house and the selling of another. Waiting to sell an existing property, but found the perfect ' next' property? There is a way to ' bridge' the gap. A bridging loan may also be used to purchase an investment property with the loan repaid when the investment property is refinanced.?
Bridging loans 1st & 2nd mortgage loan/caveat loans
Bridging loans are no longer than a 12 month period
Prime Finance Bridging loans product guides residential/business purpose
1. Loans up to 1.5 million dollars
2. LVR up to 80% of as is value (terms and conditions apply)
3. Rate mortgage/caveat loan rate is 1% to 2% per month
Prime Finance Bridging loans securities
Residential properties in metropolitan areas
Rural / Residential properties (population over 50,000)
Commercial properties
Industrial properties
Vacant Land (in metropolitan areas only, LVR up to 75%)