- enable you to buy a new home before you sell your old one
Interest from nom. 5,50%/ eff. 5,89%.
WE COORDINATE THE WHOLE PROCESS FOR YOU
Most people who change housing buy new homes before they sell the old one.
With us, you get a good loan offer for your new home purchase. If you already own a property, we can help you estimate the value of this, as well as assist you with a skilled real estate agent in your area. In such a case, you will need a bridge loan if you want to buy before you have sold your current home. We help you figure out how much loan you can expect to get in long term and bridge loan, as well as coordinate the entire process for you between banks and brokers. For the quickest possible process, include the latest tax report, fresh paycheck, valuation, FINN code and any other relevant documentation in your application.
Bridge loan is a mortgage you take with security in the home you are selling, that is, the one you move from. Then you can move the equity that is locked in the home, over to the new home you buy - before you sell your old one. This can also be used when the home is sold, but the acquisition of new housing is set before you move from your current housing.
2 mortgages, 2 houses
Normally, the bridge loan is a interest only loan, and usually payment period up to 6 months. This means that you can own two homes for up to six months. When you or a broker gets the settlement for the home you have sold, the bridge loan will be paid back to the bank. On the new ordinary mortgage, the bank gets security in the new home.
How much can you borrow?
The valuation or sales price of your current home is used as a basis for calculating how much you can get in bridge loan, your existing mortgage and brokerage expenses will be deducted. Total debt and security should then be within 85% of the total value of both homes. If you have sold the property but have a long takeover, the bank can calculate up to 100% of the value of this property (ie you can borrow 100% of your restricted equity minus current loans and brokerage costs).