If you’ve found a new home before you’ve sold your old one, a bridging loan could be what you’re looking for.

A bridging loan provides you with the convenience of a short term, interest-only loan to help you to keep moving ahead with purchasing your new home, while you’re waiting to sell your existing property.
  • Competitive standard variable interest rate
  • Interest only repayment option - reduce your loan repayments by paying only the interest due monthly
  • Loan terms of up to 12 months
  • No annual fees or monthly account keeping fees (fees may apply if you opt for an offset facility to be attached to your bridging loan).
  • Option to ‘capitalise’ your interest and add the interest repayments onto the amount of the loan

Rates and fees

5.06% p.a. (5.11% p.a. Comparison rate)

Minimum Loan Size is $20,000

Upfront fees
Application Fee

From $600

Ongoing fees
Monthly Administration Fee

$0 Monthly Administration Fee. $8 per month for optional offset account

Other fees
Lenders Mortgage Insurance (LMI)

Payable for loans with a deposit less than 20% (80% Loan to Value Ratio (LVR) or higher)

Third party charges

Third party charges apply e.g. stamp duty

Disclosure documents
Fees and charges brochureDownload our Fees and charges brochure (PDF, 152KB) 

Ready to apply?

We've got a range of home loans to choose from.

Most popular questions...

  • Are there limits on how long I can take out Bridging Finance for?

    A Bridging Loan can be taken for a maximum of 12 months.

    Once your existing property is sold, the balance of your loan will reduce as per your contract and your loan will be converted to another product chosen by you and described in your contract.
  • What is Responsible Lending?

    At People's Choice Credit Union we understand that credit is a very important facility which allows you to achieve your personal, financial or lifestyle goals faster than you could if you had to rely on your savings alone.

    As a mutually owned financial institution we embrace our responsibility to understand your personal situation when we make recommendations regarding providing, extending or arranging credit for you. This is to ensure you are reasonably likely to meet the obligations you have in respect of repaying the debt and avoid experiencing financial stress.

    But we recognise that situations may change from time to time which may inhibit your ability to meet your credit repayment obligations. We understand the pressures that you and your family may experience during these difficult times and we work with you to find a mutually acceptable solution to aid in your overall debt management strategies and to continue to work with you to achieve your financial goals.
  • What is a Bridging Loan?

    A Bridging Loan is a short-term loan to assist you to purchase a new property pending the sale of your existing property. A Bridging Loan can help limit your expenses by offering interest only repayments while you sell your existing home. Once you have sold your existing property the proceeds of the sale are used to reduce your overall debt.
  • Will I need to make repayments on my bridging loan?

    Our Bridging Loan is interest only, meaning a repayment only equal to the interest amount is required. We also offer the option of capitalising interest on top of your loan balance. Bridging Finance can be complicated so it’s best to discuss your loan requirements with home loan specialist who will be able to explain the options available to you.

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