Bridge Home Loan
The Mortgage House Bridge Home Loan range provides you with a means to
purchase your next property before your current one sells and allows you up to
6 months without having to make a mortgage repayment. The interest will
capitalise over this period.
Bridge Home Loan
-
Mortgage interest rates starting from
6.49%
p.a. (comparison rate
6.51%
p.a.)
-
Borrow up to
85%
of the value of the property
-
Suitable for mortgage amounts between $10,000.00
- $250,000.00
-
No ongoing fees for the life of the loan
-
Up to 30 years
loan terms
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Free Home Loan Application for a limited time. (Save $300)
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Variable RatesProduct Name | Interest Rate | Comparison Rate | Loan Amounts | Bridge Home Loan | 6.49% p.a. | 6.51% p.a. | For amounts greater than $10,000.00 | Bridge Plus Home Loan | 6.49% p.a. | 6.51% p.a. | For amounts between $250,000.00 and 650,000.00 | Bridge Max Home Loan | 6.49% p.a. | 6.51% p.a. | For amounts greater than $650,000.00 |
Fixed RatesProduct Name | Interest Rate | Comparison Rate | Bridge - 1 Year Fixed | 6.17% p.a. | 6.97% p.a. | Bridge - 2 Years Fixed | 6.28% p.a. | 6.89% p.a. | Bridge - 3 Years Fixed | 6.40% p.a. | 6.84% p.a. | Bridge - 4 Years Fixed | 6.59% p.a. | 6.94% p.a. | Bridge - 5 Years Fixed | 6.80% p.a. | 6.97% p.a. |
The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable.WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Features
The Mortgage House Bridge Home Loan range includes the following features:
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Visa card
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100% offset capability
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No ongoing fees for the life of the loan
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$20 worth of free transactions every month
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Unlimited Free redraw facility
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Portability - take your mortgage with you when you move, saving on exit fees
and loan stamp duty.
Options
Available Options on the Mortgage House Bridge Home Loan:
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Fixed Interest Rates (including Progressive Fixed Interest Rate)
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Variable Interest Rates
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Split Home Loan
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Principal and Interest home loan repayments
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Interest Only home loan repayments
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Full doc and Lo doc
A Progressive Fixed Rate home loan allows you to make
additional mortgage repayments (without incurring a fee) on a Fixed Rate home
loan providing you with the flexibility to reduce both your principal and loan
term, saving you on interest and paying off your home loan sooner.
How does this work: If you have a $420,000 loan fixed at 7.5%
p.a. for 2 years and an offset account with $30,000. Your interest will be
charged at 7.5% p.a. (fixed) on only $390,000 (progressive).
Suitability
The Mortgage House Bridge Home Loan is suitable for:
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Home buyers moving into their next property that require bridging
finance
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First home buyers and next home buyers
looking for a low home loan interest rate and want the features of being able
to use their mortgage like a bank account with a BSB and account number,
including a Visa card
-
Homeowners wanting to refinance their current home loan and
who may also want to start making preparations for wealth creation,
by accessing the equity in their home
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Customers looking to refinance with the purpose of debt consolidation
of items such as personal loans, credit cards or overdue bills
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Customers requiring a construction loan
to build their next property
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Companies and Trusts
requiring a home loan or wanting to refinance a mortgage
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Self employed customers with an ABN who require the extra
flexibility of a Line of Credit accompanied with full transactional options,
such as VISA facilities at standard home loan rates
Access
The Mortgage House Bridge Home Loan allows you to access your funds in the
following ways:
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3rd party direct debit (pay bills directly out of your home loan)
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Credit card sweep - automatically clears your credit card every month adding
the balance to your mortgage account. Never pay late fees on your credit card
again!
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3rd party protocol friendly - allows organisations to automatically debit from
your account, ie pay phone bill
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VISA card available on request (linked to your home loan)
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BPay out (money directly out of your home loan)
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Debit card - allows you access to your money from an ATM
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Unlimited free internet redraws (to nominated account)
Repayments
The Mortgage House Bridge Home Loan offers the following mortgage repayment
options:
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Free Direct Credit - Available to any 3rd party institution
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Free Direct Salary Crediting - you can have all or part of your pay directly
deposited into your home loan account weekly, fortnightly or monthly
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Unlimited Free Direct Debit - borrowers can have their repayment drawn from a
nominated bank account weekly, fortnightly or monthly
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Australia Post Deposit - make a mortgage repayment at an Australia Post office
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Bpay In (money directly credited to your home loan)
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Principal and Interest home loan repayments up to 30 years
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Interest Only home loan repayments up to 10 years
Where to go from here:
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