Lower interest rates
Market leading Principal & Interest and Interest Only rates for owner-occupiers and investors.
Our bridging loan is available up to 80% LVR on âpeak debtâ calculated as the sum of your existing mortgage plus the new loan required to purchase your property.
The minimum repayments on a bridging loan will be calculated on an Interest Only basis and the interest can be capitalised (added to the âpeak debtâ loan amount) until the existing home is sold.
An offset facility provides you with a sub-account to your loan. The benefit that you get through an offset account is that you can reduce your interest amount - your loan principal gets reduced by the amount of money you hold in your offset account.
You can make unlimited additional repayments on our variable home loan. This means that you can pay off your loan faster than the agreed term and save on interest.
Own your property sooner with our fully-featured
bridging loan options
Market leading Principal & Interest and Interest Only rates for owner-occupiers and investors.
Our loans have all the bells and whistles - online access with redraw, early repayment and offset functionality.
At Yard you get your own personal consultant who works with you throughout your home buying or refinancing journey.
The bridging loan covers the time between buying or building a new property, and settling on the sale of your existing one, available for a period of 6-12 months.
Yardâs Bridging Loan is a short-term loan designed to cover the purchase price or construction costs of a second property and give you time to sell your existing property. The loan provides you with a âbridgeâ between buying and selling. Once the current home is sold, the original mortgage is discharged and the loan converts to a standard Yard Home Loan. For more information, read our bridging loan guide or talk to one of our experts.
The bridging loan term is up to 6 months when you are buying an established property and up to 12 months if you are building a new property.
Yard can provide a bridging loan for up to 80% loan-to-value ratio of the combined value of the two properties.
The mortgage repayments during the bridging period are calculated on an interest only basis. The interest can also be capitalised, i.e. added to the loan amount you will owe at the end of the bridging period once your property is sold. You can make unlimited repayments during the bridging period and also use an offset facility to minimise the amount of interest you are charged.
A bridging loan may suit borrowers who want to buy a new property before their existing home has sold, or who plan to stay in their current home while a new one is being built. Potential advantages include:
It is worth weighing these against the potential drawbacks before deciding if a bridging loan suits your circumstances.
When assessing a bridging loan application, Yard typically considers whether you:
Yard bridging loans may also be used to help fund the construction of a new home. Final eligibility depends on your individual circumstances and Yard's credit criteria. Speak with a Yard Consultant to discuss what may apply to your situation.
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