Bridging Loan
A fully secured, short term property funding loan for members who wish to sell existing property and who have found a new property to purchase.
A bcu Bridging Loan allows you to go ahead and negotiate a new property purchase before selling your existing property.
Variable rate
Comparison rate
For principal and interest loans of $20,000 or more, up to 80% of the property value.
Benefits
Loan term
Up to 12 months
Additional payments
Make extra repayments to your loan when it suits you
Home loan specialists
To help you at every stage
Buy with confidence
Pre-approval valid for 3 months
Loan details
Maximum term | 6 or 12 months |
Minimum loan | $20,000 |
Redraw available | |
Maximum borrowing amount up to the property value (with LMI) | 80% |
Maximum borrowing amount up to the property value (without LMI) | 80% |
Offset facility | |
Principal and Interest | |
Interest only option available - see interest rate below | |
Available for construction |
Interest rate | 9.76% p.a. |
Comparison rate | 9.79% p.a. |
Establishment fee | $0 |
Annual fee | $0 |
Document Preparation fee | $300 |
Important information
Credit products issued by Police & Nurses Limited (BCU Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change.
Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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