Moving On?

When you’ve been through it all previously, you probably have a pretty good idea of just what a headache organising your home loan can be! 

And if you’re relying on selling your current home to fund the next, you also have the challenge of organising finance to cover any time gap between the sale of your current home and the purchase of your new one. In this case, a bridging loan could be the answer. 

On the other hand, you may want to turn your current home into an investment property and use available equity to fund your next home purchase. This can be a little complex, and it pays to get professional home loan advice from us on how to structure the loans.


Why choose Optimum Home Loans and Finance?


  • Wide choice - We can compare hundreds of highly competitive home loan options from our wide choice of lenders, including the big four banks.

  • No cost to you - Our home loan service is no cost to you because the lenders pay us, so you can make your next move with ease.

  • Less stress - We do all the legwork and running around to get you the right home loan for your needs.

  • Convenience - Appointments to fit your busy lifestyle, at the time and place that suits you.


Bridging Loans


If you find yourself with two properties and two mortgages to pay, you’ll need to investigate your options. One option is checking if the seller will allow an extended settlement period, giving you more time to find a buyer for your current home. Or, you could also look into bridging finance.

A bridging loan, or bridging finance, is a short term loan typically with a term of six to 12 months, which covers both the existing and new debt. Bridging finance is available to those people who are looking to purchase or construct a new home prior to selling their current property even if the proceeds of the sale of their existing home are required for the new purchase. But you will need to carefully explore all the options before you commit. For most people it is far more advisable to sell your existing property before you commit to a new one.


Deposit Guarantee


A deposit guarantee, also known as a deposit bond, offers another financing option. Instead of putting down a cash deposit to secure your new home, you take out a deposit guarantee (we can help purchase this). It can be a cheaper alternative to bridging finance and it gives you, the buyer, reassurance that the new property will be held until you settle your own home.


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