Bridging Loan

Consider Yard's bridging loan if you need to buy before going through the process of selling an existing property

Rates from
2.19
%
variable rate p.a.
2.22
%
comparison rate p.a.**
Owner occupier P&I with LVR ≤80%
Rates from
2.45
%
variable rate p.a.
2.48
%
comparison rate p.a.**
Investor P&I with LVR ≤80%
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Our features

Up to 80% LVR on “peak debt”

Our bridging loan is available up to 80% LVR on “peak debt” calculated as the sum of your existing mortgage plus the new loan required to purchase your property.

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Interest Only repayments

The minimum repayments on a bridging loan will be calculated on an Interest Only basis and the interest can be capitalised (added to the “peak debt” loan amount) until the existing home is sold.

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Optional 100% Offset Facility

An offset account 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.

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Unlimited additional repayments

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.

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What we offer

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.

Rates from
2.19
%
variable rate p.a.
2.22
%
comparison rate p.a.**
Owner occupier P&I with LVR ≤80%
Rates from
2.45
%
variable rate p.a.
2.48
%
comparison rate p.a.**
Investor P&I with LVR ≤80%
Interest rate type
Variable
Loan size
$150,000 min
$5,000,000 max
Loan term
6-12 months

Max LVR
Up to 80% of combined property value
Repayment frequency
Weekly
Fortnightly
Monthly
Repayment types
Interest only

What our customers say...

Are you ready to make a move?

Frequently asked questions

How does a bridging loan work?

Yard’s Bridging Loan is a short-term loan designed to cover the purchase price or construction cost of a second property and give you time to sell your existing property. The loan provides you with a “bridge” 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.

How long do I have to sell my existing property?

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.

How much can I borrow for a bridging loan?

Yard can provide a bridging loan for up to 80% loan-to-value ratio of the combined value of the two properties.

What mortgage repayments am I required to make during the bridging period?

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.