Our company is here so you’re able to tits some typically common misunderstandings and set the new record straight into bridging financing, what they are and exactly how they’re able to assist your own buyer’s to order fantasies.
This new thinking from bridging financing will likely be very different to reality. Because the less-understood type of home loan, it could be hard to rating a precise definition of exactly what a connecting mortgage is actually as well as how it truly does work.
We are right here so you can breasts some common misconceptions and set brand new listing upright towards connecting finance, what they are and exactly how they could let your client’s to get goals – permitting them be furnished making told decisions about their next move.
Connecting money are a great flexible and cost-effective way to finance next property get when you are would love to promote the current house. You can find a range of causes home owners might not have to offer their house during the time of to acquire a different domestic, whether or not which is property field conditions or other private circumstances.
This is where Bridgit comes in – we ‘bridge’ new gap amongst the acquisition of another possessions and you will this new revenue of most recent house. If your consumer was upsizing, rightsizing otherwise downsizing, bridging funds are a good flexible, cost-efficient way to progress by themselves terms.
Misconception 1: Connecting fund are used as a last lodge
Usually, connecting funds was viewed as money having people who have kept capital too late otherwise failed during the applying for conventional family financing issues. Read more