{"id":31,"date":"2023-09-20T01:41:06","date_gmt":"2023-09-20T01:41:06","guid":{"rendered":"https:\/\/www.breakthruhomeloans.com.au\/?page_id=31"},"modified":"2023-09-25T06:17:44","modified_gmt":"2023-09-25T06:17:44","slug":"bridging-loans","status":"publish","type":"page","link":"https:\/\/www.breakthruhomeloans.com.au\/services\/bridging-loans\/","title":{"rendered":"Bridging Loans"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"31\" class=\"elementor elementor-31\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-17ac441 e-flex e-con-boxed e-con e-parent\" data-id=\"17ac441\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-31ae128 elementor-widget elementor-widget-spacer\" data-id=\"31ae128\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8d73315 elementor-widget elementor-widget-heading\" data-id=\"8d73315\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Bridging Loan<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be8cd20 elementor-widget elementor-widget-spacer\" data-id=\"be8cd20\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ea16007 e-flex e-con-boxed e-con e-parent\" data-id=\"ea16007\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0297a34 elementor-widget elementor-widget-text-editor\" data-id=\"0297a34\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>A bridging loan is a short-term loan that can help you buy a new home before selling your existing property.<\/p><p>While a bridging loan can be a great solution, it\u2019s important you carefully weigh up the pros and cons as there are risks involved.<\/p><p>Breakthru Home Loans can help you explore all your options, including alternative ways to finance your property purchase.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-adb8561 e-flex e-con-boxed e-con e-parent\" data-id=\"adb8561\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;shape_divider_bottom&quot;:&quot;tilt&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M0,6V0h1000v100L0,6z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5751ef elementor-widget elementor-widget-heading\" data-id=\"b5751ef\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">When you might use a bridging loan<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05e3a63 elementor-widget elementor-widget-text-editor\" data-id=\"05e3a63\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Some buyers who purchase a new residence retain their existing home and convert it into an investment property. Most, though, sell their existing home so they can afford to buy their new residence.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4adb37f elementor-widget elementor-widget-text-editor\" data-id=\"4adb37f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>That forces them to decide between these three options:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e721f55 elementor-widget elementor-widget-accordion\" data-id=\"e721f55\" data-element_type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-accordion{text-align:left}.elementor-accordion .elementor-accordion-item{border:1px solid #d5d8dc}.elementor-accordion .elementor-accordion-item+.elementor-accordion-item{border-top:none}.elementor-accordion .elementor-tab-title{margin:0;padding:15px 20px;font-weight:700;line-height:1;cursor:pointer;outline:none}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{display:inline-block;width:1.5em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon svg{width:1em;height:1em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-right{float:right;text-align:right}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-left{float:left;text-align:left}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-closed{display:block}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-opened,.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-closed{display:none}.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-opened{display:block}.elementor-accordion .elementor-tab-content{display:none;padding:15px 20px;border-top:1px solid #d5d8dc}@media (max-width:767px){.elementor-accordion .elementor-tab-title{padding:12px 15px}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{width:1.2em}.elementor-accordion .elementor-tab-content{padding:7px 15px}}.e-con-inner>.elementor-widget-accordion,.e-con>.elementor-widget-accordion{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-accordion\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2421\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2421\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" tabindex=\"0\">Sell first and buy second<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-2421\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2421\"><p>This is the most straightforward option from a finance perspective. When you sell your first property, you\u2019ll pay off your home loan from the sale proceeds \u2013 and any spare money can then be used to fund the deposit and transaction costs on your next property purchase. The downside, though, is that you\u2019ll have to move twice \u2013 once to your temporary home and once to your new home (whenever you end up buying it). Another potential downside is that if you complete these two transactions in a rising market, the longer the process takes, the more you\u2019ll have to pay for your new home.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fb0926a elementor-widget elementor-widget-accordion\" data-id=\"fb0926a\" data-element_type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-accordion\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2631\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2631\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" tabindex=\"0\">Buy first and sell second.<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-2631\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2631\"><p>This is trickier from a finance perspective, because it means, for the short-term, that you need two home loans at the same time \u2013 one for your existing home (that you haven\u2019t yet sold) and one for your new home. That second loan is the bridging loan, because it acts as a bridge that allows you to move from one home to another. The big advantage of a bridging loan is that you only need to move once. Also, if you move in a rising market, you get to buy earlier (when prices are lower) and sell later (when prices are higher).<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c88bd0 elementor-widget elementor-widget-accordion\" data-id=\"9c88bd0\" data-element_type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-accordion\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1641\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-1641\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" tabindex=\"0\">Try to sell and buy simultaneously<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1641\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-1641\"><p>Try to sell and buy simultaneously<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-046034a elementor-widget elementor-widget-text-editor\" data-id=\"046034a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If you\u2019re wondering whether a bridging loan is right for you, the Breakthru Home Loans mortgage broker team would be happy to discuss your options with you.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5f27f2 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"f5f27f2\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/www.breakthruhomeloans.com.au\/index.php\/contact\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Get in Touch<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0905e2b e-flex e-con-boxed e-con e-parent\" data-id=\"0905e2b\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a09455f elementor-widget elementor-widget-heading\" data-id=\"a09455f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How bridging loans work<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f4de44b elementor-widget elementor-widget-text-editor\" data-id=\"f4de44b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As mentioned above, if you decide to buy first and sell second, you can use a bridging loan to finance the purchase of your new home.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e85e86 elementor-widget elementor-widget-text-editor\" data-id=\"9e85e86\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Here\u2019s how bridging loans work:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b93881d e-flex e-con-boxed e-con e-child\" data-id=\"b93881d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e84b414 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"e84b414\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-widget-image-box .elementor-image-box-content{width:100%}@media (min-width:768px){.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper,.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{display:flex}.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{text-align:right;flex-direction:row-reverse}.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper{text-align:left;flex-direction:row}.elementor-widget-image-box.elementor-position-top .elementor-image-box-img{margin:auto}.elementor-widget-image-box.elementor-vertical-align-top .elementor-image-box-wrapper{align-items:flex-start}.elementor-widget-image-box.elementor-vertical-align-middle .elementor-image-box-wrapper{align-items:center}.elementor-widget-image-box.elementor-vertical-align-bottom .elementor-image-box-wrapper{align-items:flex-end}}@media (max-width:767px){.elementor-widget-image-box .elementor-image-box-img{margin-left:auto!important;margin-right:auto!important;margin-bottom:15px}}.elementor-widget-image-box .elementor-image-box-img{display:inline-block}.elementor-widget-image-box .elementor-image-box-title a{color:inherit}.elementor-widget-image-box .elementor-image-box-wrapper{text-align:center}.elementor-widget-image-box .elementor-image-box-description{margin:0}<\/style><div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img fetchpriority=\"high\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-12.png\" class=\"attachment-full size-full wp-image-197\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-12.png 230w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-12-150x150.png 150w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-description\">You can use bridging loans not just to buy a second property but also pay the associated transaction costs.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e395cd elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"3e395cd\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-13.png\" class=\"attachment-full size-full wp-image-198\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-13.png 230w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-13-150x150.png 150w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-description\">You generally use the same lender for the two home loans. The combined loan amount is known as your \u2018peak debt\u2019.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-382a63d elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"382a63d\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-14.png\" class=\"attachment-full size-full wp-image-199\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-14.png 230w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-14-150x150.png 150w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-description\">Bridging loans are short-term facilities and generally interest-only. Usually, you don\u2019t have to pay these interest payments out of your pocket; instead, they get added to your peak debt.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56b890a elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"56b890a\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-15.png\" class=\"attachment-full size-full wp-image-200\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-15.png 230w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/BG-15-150x150.png 150w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-description\">When you sell your first property, the sale proceeds are used to pay down some of your peak debt. This new, smaller debt is known as your \u2018end debt\u2019.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3e52e62 e-flex e-con-boxed e-con e-parent\" data-id=\"3e52e62\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-85e8e44 e-con-full e-flex e-con e-child\" data-id=\"85e8e44\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bdf368b elementor-widget elementor-widget-image\" data-id=\"bdf368b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"515\" height=\"593\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group.png\" class=\"attachment-large size-large wp-image-209\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group.png 515w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group-261x300.png 261w\" sizes=\"(max-width: 515px) 100vw, 515px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-73c1719 e-con-full e-flex e-con e-child\" data-id=\"73c1719\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-06e57d8 elementor-widget elementor-widget-heading\" data-id=\"06e57d8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">More about bridging loans<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1cc84f2 elementor-widget elementor-widget-text-editor\" data-id=\"1cc84f2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To get a bridging loan, you\u2019ll need to have exchanged contracts on the sale of your first property. You\u2019ll also need to prove your creditworthiness in the same way you would with a regular home loan.<\/p><p>Of course, a mortgage broker can help you with the process.<\/p><p>Once you\u2019ve secured the bridging loan, you\u2019ll generally have to complete the two transactions in either six months (if you\u2019re buying an existing property) or 12 months (if you\u2019re buying a new property). That said, conditions vary from lender to lender.<\/p><p>If you fail to complete the two transactions in time, your mortgage broker can ask the lender for an extension \u2013 but the lender would be entitled to refuse. In that case, the lender could demand you immediately repay the loan. So if you decide to take out a bridging loan, you need to be willing and able to buy and sell within the allotted time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1352daa e-flex e-con-boxed e-con e-parent\" data-id=\"1352daa\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-70e99ae e-con-full e-flex e-con e-child\" data-id=\"70e99ae\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9e444a1 elementor-widget elementor-widget-heading\" data-id=\"9e444a1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How to know if a bridging loan is right for you<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-284cab8 elementor-widget elementor-widget-text-editor\" data-id=\"284cab8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As you can see, there are pros and cons to bridging loans, as well as risks.<\/p><p>Don\u2019t worry if bridging loans seem confusing \u2013 an expert mortgage broker, like Breakthru Home Loans, can explain the process to you in clear terms and model different scenarios with you.<\/p><p>Your mortgage broker could also let you know whether a bridging loan would be suitable for you, based on your personal circumstances.<\/p><p><strong>Wondering if a bridging loan is right for you? Contact us to discuss your options.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-799f6e7 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"799f6e7\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-grow\" href=\"https:\/\/www.breakthruhomeloans.com.au\/index.php\/contact\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Get In Touch<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e44fe47 e-con-full e-flex e-con e-child\" data-id=\"e44fe47\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e07f362 elementor-widget elementor-widget-image\" data-id=\"e07f362\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"515\" height=\"529\" src=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group-1.png\" class=\"attachment-large size-large wp-image-210\" alt=\"\" srcset=\"https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group-1.png 515w, https:\/\/www.breakthruhomeloans.com.au\/wp-content\/uploads\/2023\/09\/Mask-group-1-292x300.png 292w\" sizes=\"(max-width: 515px) 100vw, 515px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Bridging Loan A bridging loan is a short-term loan that can help you buy a new home before selling your existing property. While a bridging loan can be a great solution, it\u2019s important you carefully weigh up the pros and cons as there are risks involved. Breakthru Home Loans can help you explore all your [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":19,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bridging Loans - Breakthru Loans<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.breakthruhomeloans.com.au\/services\/bridging-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridging Loans - Breakthru Loans\" \/>\n<meta property=\"og:description\" content=\"Bridging Loan A bridging loan is a short-term loan that can help you buy a new home before selling your existing property. While a bridging loan can be a great solution, it\u2019s important you carefully weigh up the pros and cons as there are risks involved. 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