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Get Fast Bridging Finance in NZ

Instant bridging finance is essential in your moment of need so we cut the red-tape, make fast decision and give you the freedom to negotiate for that home purchase you have your heart set-on.  Urgent bridging loans are usually used to buy a house before you sell the home you’re currently living in. It ties you over for a short period that while waiting for the sale, allowing you to afford any mortgage repayments associated with both properties. It can also be used for a deposit on your new home, which can be paid back once your existing home is sold.
But when you’re working with Alternate, we can also offer you an urgent bridging loan when you need lending for purchasing and selling industrial equipment or vehicles; it’s not just for purchasing a property.

 

 

Fast Bridging Finance
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How Bridging Finance Works

Some lenders will take over the mortgage when offering a bridging loan, and you’ll accrue interest until you start making payments or settle the amount in full upon the sale of your property. A bridging loan is a short term solution that is usually for only 3 – 6 months while you sell your existing property or equipment. You pay interest for the period on the amount you’ve borrowed, much like you’d pay on a normal loan.

Get fast bridging finance from Alternate Finance with the freedom of negotiating your term and repayments. You’ll receive an email with an annual interest rate ranging between 10.95 to 17.95% p.a. for your short term loans.

For further details, please contact us for a one on one consultation, or view our loan default interest rate guide, please view our rates and fees here.

If you want a bridge loan from Alternate, it’s important that you understand our terms of trade in detail. We are responsible lenders and want you to know the conditions. When starting the application process for Bridging Loans, you’re granting Alternate Finance Limited permissions to store your sensitive information. Our company will meet our obligations to keep all information on the Alternate Finance website accurate and up to date, relating to your bridging loan for your investment. If you find an error, and if brought to our attention in writing, we will work quickly to rectify it within a reasonable timeframe. For more information relating to the terms of your financing, please view this page.

Your details are data protected when applying for fast bridging finance, as we have end-to-end encryption on all of our webforms. All loan information you provide will be treated confidentially and you can have confidence that your loan application will remain secure.

Get fast bridging finance from Alternate Finance with the freedom of negotiating your term and repayments. You’ll receive an email with an annual interest rate ranging between 10.95 to 17.95% p.a. for your short term loans.

For further details, please contact us for a one on one consultation, or view our loan default interest rate guide, please view our rates and fees here.

If you want a bridge loan from Alternate, it’s important that you understand our terms of trade in detail. We are responsible lenders and want you to know the conditions. When starting the application process for Bridging Loans, you’re granting Alternate Finance Limited permissions to store your sensitive information. Our company will meet our obligations to keep all information on the Alternate Finance website accurate and up to date, relating to your bridging loan for your investment. If you find an error, and if brought to our attention in writing, we will work quickly to rectify it within a reasonable timeframe. For more information relating to the terms of your financing, please view this page.

Your details are data protected when applying for fast bridging finance, as we have end-to-end encryption on all of our webforms. All loan information you provide will be treated confidentially and you can have confidence that your loan application will remain secure.

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Did You Know?

Bridge Loan Interest Rates

Bridge Loan Interest Rates

If your loan is a large sum of money, generally, you're given low-interest rates in comparison to smaller values. Alternate provides low-interest rates of 10% through to our higher interest rate at 17.95%, and these are negotiated on a case by case basis depending on the term and the value of the bridging finance for construction or property or equipment.

Security For Bridging Finance

Security For Bridging Finance

Usually, your property, whether it be a house or a vehicle, or equipment, is security in itself, so you don't need to worry about providing security. In the unlikely event that things go horribly wrong, like a housing market crash, a finance company will have an interest in the item you're selling and buying.

How long does it take to get bridging finance?

How long does it take to get bridging finance?

The preliminary approval process can be as little as 60mins. Full approval can take anything from 72 hours to a week to complete. It's not the quickest type of finance to get approved for in New Zealand, due to its complexity, but once approved, you'll get money in your account within 24 hours.

Do you have to make payments on bridging loan?

Do you have to make payments on bridging loan?

During the bridging period, the interest on the loan gets added to your ongoing balance. While some loan structures only require you to make repayments when your existing property is sold, as responsible lenders, we encourage interest payments while waiting for your existing property to sell so the loan doesn't grow into a larger debt.

Bridge Loans And Renovations

Bridge Loans And Renovations

Often people won't have the funds to renovate their home before selling it, but in order to get top dollar, they can apply for a bridge loan that allows them to make alterations and put the property on the market in a short period of time. This is similar to loans for builders and construction loans for people that like to flip houses.

Example of Fast Bridging Finance

Example of Fast Bridging Finance

If you are buying a house for $500,000, and you have a $30,000 deposit in cash, plus $200,000 equity in your current property, you'll need your deposit topped up to $100,000 to buy the new property (20%). You'll borrow $70,000 as a bridging loan from Alternate. You'll accrue interest on the $70,000 for the duration that you have the loan. Once you sell your existing property and release the $200,000 equity, you'll repay the Bridge loan of $70,000 + any interest remaining from sale profits.

What are the cons of bridging loans?

What are the cons of bridging loans?

If you don't sell your existing home or equipment in the expected time-frame you'll continue to accrue interest. Although we do run you through the the fine print, be sure to always read the terms and conditions on your loan agreement so you completely understand the fees associated with the finance provided.

Contact our friendly team for more information on bridging loans