 |
Typical Bridging Loans |
|
|---|---|---|
| Borrow up to Available Equity1 |  |
 |
| Same Day Approval | |
|
| Typical Funding Time | 24 - 48 Hours | 2 - 3 Weeks |
| No Application or Admin Fee | |
|
| One-off Credit Fee2 | |
|
| Get Started |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
|
Typical Bridging Loans |
|
|---|---|---|
| Borrow up to Available Equity1 | |
|
| Same Day Approval | |
|
| Typical Funding Time | 24 - 48 Hours | 2 - 3 Weeks |
| No Application or Admin Fee | |
|
| One-off Credit Fee2 | |
|
| Get Started |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
A bridging loan, also known as a caveat loan, is a type of short term property loan, usually for the purpose of buying a home or other property and used while waiting for a longer term financial solution or a temporary fix.
Bridging loans generally run from as short as a few weeks up to a couple of years in some cases. They are generally used to assist buying a new home, while waiting for their existing home to sell, so they 'bridge' the gap between these events. Bridging loans may take a few weeks to process and fund, so are not suitable in all situations.
Settlement Advances, offer a faster option to bridging loans, where the loan may be approved and funded much quicker. We can fund in emergencies in 24 hours, or faster and the same day in some cases.
See How it Works above to learn more.
See Short Term Bridging Loans for more info.
In order to qualify with SettlementAdvances.com.au, which offers a faster solution than traditional bridging loans, you must own or have equity in a property or your home, which you intend to sell or have recently sold.
Your credit history is not considered as we do not make any credit checks or enquiries on your application.
The amount you can advance on your property sale cannot exceed the equity you own in the sale property1.
The advance can be used for a range of purposes from the costs associated with preparing your property for sale, such as repairs, home advertising costs (VPA), deposits on a new property, bidding at auction or for the outright purchase of another property.
In order to qualify with Settlement Advances with your fast bridging loan enquiry;
You must:
Fast bridging loans can be useful in a number of situations, where you are asset rich( in a property) and have a shortfall in cash and need access to your equity fast.
If you are in the process of selling your property, you know that when your property sells, the equity that you have built up in your property will be available to you, however if you need to make use of that locked up equity before the settlement date, a fast bridging loan may help.
Some common examples include:
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
| Example | Borrow | Repay |
|---|---|---|
| Preparing for Sale Costs | $10,000 | $10,600 |
| Property Advertising Costs | $15,000 | $15,900 |
| Pre-Sale Property Repairs | $25,000 | $26,500 |
| Deposit for New Property | $80,000 | $84,800 |
| Bid at Auction for Property | $150,000 | $159,000 |
| Purchase Property | $500,000+ | VIP Rates* |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
Dawn was advanced $260,000 on her home settlement to purchase a retirement home
Dawn was looking to purchase in an over 55's. Retired and equity rich but cash poor, she was unable to service a loan for the deposit to make the purchase into the new property.
RealtyAssist was able to help with the entire purchase price of $260,000 in under 48 hours and Dawn settled on her new place before she settled on her sale. The sold home settled two weeks after she was already happy in her new home.
Stephen was advanced $88,000 on his home settlement to bid at auction
Stephen sold his property on a Tuesday and wished to attend an auction on the upcoming Saturday to purchase his new property. Unfortunately, the banks advised a wait time of approximately 14 days to get a bridging loan in place. This would mean Stephen would miss out on the auction and perhaps buying his next home.
Luckily, with RealtyAssist, Stephen was quickly advanced $88,000 from his sales settlement on the same day he applied and was able to bid at the auction. He was successful in winning the auction!
Stephen got the home he wanted and got the funds in his account within 15 minutes of his application for a small fee of just $3,695.
* Customer stories have been anonymised to protect customer privacy
Similar to, but faster than a bridging loan, a settlement advance allows a home seller to get fast access their home's equity from a sale, without having to wait for the funds to be released from the bank, which may take weeks. A settlement advance can be a faster alternative to traditional bridging loans, when the funds are needed in a hurry or urgently. Settlement advances can be paid as quickly as 24 hours or on the same day in some urgent cases.
See How it Works above to learn more.
Generally no, they can't. A faster option is a settlement advance. Our settlement advances may be processes on the same day in emergencies, when documentation can be provided promptly. Once you complete the form above and give us a few details about your needs, we will call you straight back to guide you through the process, so you can get access to your funds on the same day or within 24 to 48 hours.
The application online can be completed in just 3 or 4 minutes for most people. We just need your contact details, some details about the property and your advance requirements. After that, we'll call you straight back, during regular office hours to go over any questions you have and to clarify your requirements. We will also confirm with you the documents we will need to see. If your advance is an emergency, where you need the funds fast, we will prioritise your application, so you get access to funds asap.
The minimum settlement advance we offer is $5,000, while the maximum may go up to the available equity value1 of your property, minus any fees - such as $1,000,000 or more - up to $5,000,000. If you are borrowing more than $500,000 with us, we can offer you lower VIP rates* for larger loan sizes.
For additional information and access to our loan calculator, visit our page.
This will depend on how much money that you choose to advance with us and on how long you need the advance for, before it is repaid to us. At Settlement Advances (Realty Assist), we are very transparent with our costs and charges, and any costs will be clearly available in your contract when you agree and sign. See the Repayment Costs Chart above for some common examples of uses and costs.
Settlement advances are often a much quicker option to bridging loans. Bridging loans can often take 2 or 3 weeks to be processed and funded. In some situations, such as bidding at an auction or putting down a deposit on a property, the funds are needed urgently and settlement advances provide a huge advantage over bridging loans, as they can be approved and paid out in 24 to 48 hours in most cases. Also see the Compare Settlement Advances to Bridging Loans chart above.
Your settlement advance is set up to run for 60 days in the first instance, which is suitable in most situations. However it may be possible to extend the loan term duration when needed, such as if there is a delay in selling your property or there is a delay in the settlement date. Please contact us to discuss.
In most cases, we will need to see the following documents and details to support your application with us:
These documents and details can be emailed directly to us at docs@SettlementAdvances.com.au quoting your name and property address.
No, but there are alternatives which could provide the funds on the same day. Same day settlement advances, which are similar to bridging loans, are possible with us. When making your enquiry, please select that the funds are needed in 24 hours for us to fast track your application. We'll give you a call straight back, during regular working hours, we'll let you know what documents we need from you and confirm when we estimate your advance can be processed and funded to your bank account. Most applications with us are processed within 24 to 48 hours and sometimes sooner, on the same day, when needed in an emergency.
To help speed up your application, complete the short enquiry form above, which should only take 3 or 4 minutes, give us your advance details (make sure to select '24 hours'), contact details and property details straight away. We will give you a call back, so be ready to accept a phone call from us or give us a call directly to 1300 893 199, during office hours.
No, that is not necessary. As the property you are selling or have sold provides security, we do not need to run a credit check on your application. However, we will need to see documentation to confirm the property sale or ownership.
If the property you are selling or have sold is in joint ownership, then yes, you can get a joint settlement advance.
Well, it really depends on your requirements and speed of funding needed. Bridging loans typically take 2 or 3 weeks to process and fund, while there are other options available. A good alternative to bridging loans, when the funding is needed faster, are settlement advances; funds can be made available within 24 to 48 hours in most cases.
Also see the Compare Settlement Advances to Bridging Loans chart above.
Your settlement advance loan will be set up to run for 60 days, which gives most people plenty of time for their house settlement to complete and repay the advance to us. If more time is needed for the sale to complete, please contact us to discuss how we can help.
If you have already sold your property and can't wait for the sale to complete at settlement, before you can access the funds, then a very fast option is a settlement advance. We can advance the funds needed in an emergency in 24 hours, sometimes on the same day, provided everything is in place1.
If you have found a new property that you would like to own, and need to put down a deposit before your current property sale settles, then a short term property loan from us could be the answer. We could provide funds to cover the deposit, in as little as 24 hours and in some cases, in an emergency, we have provided the funding on the same day. Whether you need the funds for a home deposit, auction or outright purchase, SetlementAdvances.com.au could provide the funds, up to the available equity value of your property1 which is pending settlement - Fast!
We can also help with advances on your upcoming home sale with our Vendor Paid Advertising (VPA) product. We can advance up to $30,000 for the purpose of home improvements and repairs to help fix up your property, so it gets seen in the best light. Improving your chances of a fast sale at the right price.
Yes you could1 make use of our Vendor Paid Advertising (VPA) product. Simply complete the short application at the top of this page to get started. We could advance you up to $30,000 to assist with your property sale and marketing costs.
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
Bridging Loan Alternative - Settlement advances are a great alternative to bridging loans, to access your property sale funds fast and for a short time.
Settlement Advances - Settlement advances are available from $5,000 to $5,000,000, up to a maximum of 80% of the property value1.
Caveat Loans - Caveat loans are secured against the value of the property title, by caveat.
