A bridging loan, also known as interim financing is a temporary short term funding option, which allows your business to receive funding before a permanent solution is found. It is often difficult to precisely match up the dates between the sale of an old asset and the purchase of a new one. The bridging loan provides you access to cash during this period to fund the purchase before your old asset is sold.
Once the old asset has been disposed of, the capital raised from the sale can be used to pay off the bridging finance approval.
Bridging loans are best suited to when an individual requires funds for a short period of time to purchase a new asset, while waiting for the sale of the present asset.
In particular, bridging finance is most commonly utilised by purchasers of real estate assets, as in the real world, many of us find the perfect new home before we are able to "offload" our existing one.
Max Equity is committed to providing the most flexible and suitable bridging loans in Australia, to everyday people just like you. Max mortgage is recognised as the leader in the short term lending industry, receiving many awards for their excellence in customer service. We will also consider bridging loans for those with bad credit.