SettlementAdvance

27/04/2022

House price growth across the combined capital cities is 10 times slower this quarter compared to last, suggesting the property boom is on the cooldown,...

12/04/2022

12/04/2022

The only thing you should learn from history is that we don't learn from history. Every year there are forecasts of doom and gloom, and property...

06/04/2022

CoreLogic's national Home Value Index (HVI) was up 0.7% in March, a subtle increase on the 0.6% lift recorded in February. The uptick in the monthly rate of growth was primarily driven by stronger conditions in Brisbane, Adelaide, Perth and the ACT, along with several regional areas, offsetting a sl...

03/04/2022

The first quarter of the year has seen Australian dwelling values rise by 2.4%, adding approximately $17,000 to the value of an Australian dwelling....

30/03/2022

The pre-election budget provides short-term cost of living relief but has been criticised for failing to provide long-term solutions.

28/03/2022

An expansion of the government’s Home Guarantee Scheme has been lauded by many in the industry as a good move against worsening affordability. Just ahead of the 2022-23 federal budget’s official

23/03/2022

Business Loans
How Bridging Loans Can Help You Achieve Your Goals
There are many types of personal and business loans available to companies and consumers. Bridging loans are a form of property loan that provides temporary financing designed to last for a short period of time. Most bridging loans last for a few months, while some may have terms that go up to one full year. These loans offer flexible forms of financing to property investors, landlords, and even to individuals who are looking to buy a new home. The term bridging loan comes from the way that it provides you with a “bridge” between two different financial transactions. For example, if you’re interested in buying a home but need to sell first, bridging loans can help you fill in the gaps until you sell your first home.

For business loans, a closed bridging loan is usually the most common option. These types of loans have an actual set date for when the loan is expected to be paid off. However, you may choose to pay off the loan early if you wish. Most businesses choose closed bridging loans because they already have a set timeline for when the loan will no longer be needed. In many cases, this type of loan has lower interest rates than an open bridging loan.

An open bridging loan still has a maximum term that typically lasts between six and 12 months. However, you’re able to pay the loan back in full at any time, or even in incremental amounts during the term period. If you don’t have a clear timeline for when the loan will no longer be needed, then an open bridging loan can be a good choice. If you need help with your finances, a settlement advance is a wonderful alternative to bridging loans. Contact us today to find out more about how we can help.