Avoid the Costly Nightmare of Selling Under Forced Pressure
When buyers fall in love with a new home without bridging finance in place, they feel panicked into accepting low-ball offers on their existing property just to meet strict contract deadlines. Giving away $50,000 to $100,000 in property equity just to secure a rushed sale is devastating.
Taxnet structures ironclad bridging facilities with up to 12 months grace period. You purchase your new property without a subject-to-sale clause (making your offer far more attractive to sellers) and give your selling agent ample time to stage, market, and auction your old house for maximum value.
Precision Peak Debt Architecture for Smooth Upgrades
Move Straight Into Your Dream Home in a Single Transition
Moving is acknowledged as one of life's most demanding experiences. Doing it twice—packing up your possessions, moving into a short-term rental for 6 months while paying bond, storage, and lease fees, and then packing up again—costs a family thousands in lost money and immense stress.
With Taxnet's bridging finance, you take possession of your new keys, move straight in at your own pace, and leave your former home beautifully vacant, cleaned, and professionally styled for open-for-inspections.
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Frequently Asked Questions
How does a bridging loan work in Victoria?+
A bridging loan is a temporary short-term financing solution that enables you to purchase a new home before selling your existing one. The lender finances the new purchase by taking security over both properties. The total combined borrowing amount is called 'peak debt'. Once your original home sells, the net proceeds pay down the bridging loan, leaving you with a standard permanent mortgage (the 'end debt').
What is the difference between open bridging and closed bridging?+
Closed bridging applies when you have already signed an unconditional contract of sale for your existing home, with a settlement date set within a few weeks or months. Open bridging applies when your existing property is not yet sold (or not yet listed). Most lenders offer an open bridging period of 6 to 12 months to sell your property.
Do I have to make double monthly mortgage repayments during the bridging period?+
Not necessarily. Most major bridging lenders offer 'interest capitalization'. Under this arrangement, monthly repayments on the bridging portion are waived during the bridging term. Instead, the interest is calculated and added onto the peak debt, which is subsequently paid in full when your old property settles.
How much usable equity do I need to qualify for bridging finance?+
Lenders typically require that your peak debt does not exceed 75% to 80% of the combined value of both properties. Taxnet orders upfront professional bank valuations on both your current home and your intended purchase to calculate your exact peak equity position.
What happens if my current house takes longer than 12 months to sell?+
If your property has not sold near the end of the agreed bridging period, the bank may require you to reprice the property, commence servicing both loans from cash flow, or extend the bridging facility. Taxnet works closely with your real estate agent throughout the term to ensure realistic pricing and timely settlement.
Buy Your Next Home Before You Sell
Speak with our Melbourne bridging loan brokers to calculate peak debt, evaluate interest capitalization, and secure your new property without delay.