Bridging Home Loans in Perth - Buy Before You Sell
Short-term bridging finance for Perth homeowners who have found their next home before selling the current one. Structured so you only move once.
You've found the right home, but yours isn't sold yet. In Perth's market, waiting can mean missing out, and selling first can mean renting in between and moving twice. A bridging loan covers the gap, letting you buy now and sell your existing home in an orderly way.
Bridging finance isn't offered by every lender, and policies vary widely. Launch Finance compares bridging options across a wide panel of lenders and structures the loan around your sale timeline and the equity in your current home.
How a bridging loan works
- Buy first. The lender funds your purchase while you still own your current home
- Interest-only bridging period, typically up to 12 months with most lenders
- Sale proceeds pay the debt down to the loan you keep on the new home
- Both properties are usually held as security until your sale settles
- Approval in 7 to 14 days is typical once your application is complete
How much equity do I need for a bridging loan?
Lenders look at your total borrowing across both properties against their combined value. Most want at least 20% equity overall to avoid Lenders Mortgage Insurance, and the loan you'll be left with after the sale must be affordable on your income. The more equity you hold in your current home, the more lenders and options are open to you.
What if my home takes longer to sell?
This is the main risk with bridging finance. Interest accrues on the full debt until the sale settles, so a slow sale costs more and reduces the equity you carry into the new home. Some lenders allow an extension, usually at a higher rate. We stress-test your numbers against a conservative sale price and timeframe before you commit, and we'll tell you if selling first or negotiating a longer settlement is the safer option.
What happens next
A 15-minute discovery call. We assess the equity in your current home, compare bridging lenders alongside the alternatives, and coordinate both settlements so the move happens once.
Call 08 9367 4222 for a free, no-obligation chat. Or request a callback at a time that works for you.
How can we help?
Stop dreaming about your next home and start living it! Send us your details and one of our friendly brokers will be in touch.
