Bridging Home Loan
A fixed rate home loan suitable for borrowers wanting to purchase a new property while waiting for the sale of their existing property.
Home Loan facts at a glance
| Effective: 2 April 2007 |
| About the loan |
A fixed rate home loan that provides a short-term financial solution to bridge the gap between the sale of an existing property and the purchase of a new one. |
| Current variable rate |
Bridging Home Loan variable rate |
| Ongoing account keeping fees |
Nil. There is however a $600 application fee. |
| Maximum amount you can borrow |
Up to 80% of the value of the property including interest capitalisation. |
| Maximum loan amount |
No maximum. |
| Repayment frequencies |
Optional. |
| Repayment options |
Optional. Regular repayments are not required on a bridging loan and the interest can be capitalised. |
| Split loan |
You can combine this loan with other Newcastle Permanent loan products including: Real Deal, Real Options, Fixed Rate Home Loan, Real Equity Home Loan, Intro Rate Home Loan or Premium Plus Package Home Loan. |
| Additional repayments |
Yes. You can make either regular additional repayments or extra lump sum payments. |
| Mortgage repayment holiday |
Yes. Regular repayments are not required on a bridging loan. |
| Redraws |
No. |
| Mortgage Offset Account |
No. |
| Portability |
No |
How to apply
If you are after a home loan that enables you to buy before you sell your current home, complete our home loan enquiry form online today to speak to our Mobile Lenders.
Here's some more information for you:
Applications for finance are subject to Newcastle Permanent's normal credit approval process. Full Terms and Conditions will be included with our loan offer. Fees and charges are payable. Loans for commercial purposes are excluded.