Bridging home loans help people sell one home at the same time they are buying another home. If you are selling your home and another home comes up that is just right, what do you do? One solution is a bridging loan which will simplify the transition between buying and selling properties at the same time.
A building and construction loan provides funding for building a home from the beginning or extensive renovations to an existing property. The main way building and construction loans work is they provide an interest-only facility with a variable interest rate during the building period. While the building is being constructed interest is only paid on the amount drawn down or paid out.