Bridging Loans

Buy before you sell with Homeloans Bridging Loans

Bridging the Gap with Homeloans MoniPower

Homeloans’ MoniPower bridging loan combines into a single loan, your new home loan and the amount outstanding on your existing home loan.

You don’t need to make any repayments on your MoniPower bridging home loan for the first six months (the first 12 months if you are building your new home) or until your existing property is sold, whichever occurs first. Fixed and variable interest rate options are available. Interest is calculated daily and charged monthly.

You can add an offset account to your MoniPower bridging home loan. By making regular payments into the offset account during the bridging period, you can reduce the interest payable on your loan. You have the ability to access the funds in your offset account at any time.

When your existing property is sold, you must use the funds to reduce the balance of your MoniPower bridging home loan to the agreed end-debt stated in your loan contract.

‘Go Between’ Bridging Feature

Homeloans MoniPower: How the ‘Go Between’ Bridging Feature works…

Bridging loan

No Repayments

Make no repayments for six months (12 months if you are building your new home), or until your existing property is sold. This is what we call your bridging period.

Your Existing Property

When your existing property sells you use these funds to reduce the balance of your MoniPower bridging home loan to the agreed amount in your loan contract.

Offset Account

You can make regular payments into an offset account during your bridging period if you wish.

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AWARD WINNING SERVICE

Where we really set ourselves apart from our competitors is the service we provide to our customers.

MPA | Brokers on Non-Banks 2016 | Non-Bank of the Year: Homeloans

TheAdviser Magazine | Third Party Banking Report on Non-Bank Lenders 2016 | Best Mortgage Manager: Homeloans

TheAdviser Magazine | Non-Bank Lending Awards 2015 | Best First Home Buyer Lender: Homeloans

TheAdviser Magazine | Non-Bank Lending Awards 2014 | Best Turnaround Times: Homeloans

TheAdviser Magazine | Non-Bank Lending Awards 2014 | Best First Home Buyer Lender: Homeloans

TheAdviser Magazine | Top 10 Originators 2013: No. 1 Originator: Homeloans Ltd