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A home-to-home loan (or bridging loan) is where you can buy or build your new home before having to sell your existing home, without making the full repayment on both mortgages by bridging the debt.

Your bank will assess the level of equity available in your existing home, and if there is sufficient equity they will allow you to finance the entire purchase amount, plus purchase costs on your new home. Some lenders also allow the capitalisation of your interest payments until your ‘bridging’ property is sold. This allows you up to 12 months to sell your existing home after you have moved into your new one.

The benefits of home-to-home loans include: not having to find a house to rent while you look for or build your new home; allowing you more time to sell your existing property which could result in increased capital growth (especially if you are building); removing the additional expense of renting; and not having to potentially move house two or more times.

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