Cronulla
Bridging loans in Cronulla
Found your next home in Cronulla before selling your current one? Bridging finance may help connect the timing, but the right answer starts with a realistic sale plan and a clear understanding of the costs.
Moving home without assuming the timing
A move within Cronulla or into the area may involve coordinating two property transactions. If the purchase comes first, look at the expected overlap between settlements and how you would manage costs if your current property takes longer to sell.
Map your peak debt and end debt
Your existing loan, new purchase funding, transaction costs and interest all affect the peak borrowing position. The amount remaining after your sale depends on the actual net proceeds, not just the advertised price of your current property.
Allow for property-specific sale costs
Discuss agent fees, preparation costs and legal expenses with the appropriate professionals. If you are buying or selling a strata property, have the relevant records and levies reviewed. These details can change the cash available for the next purchase.
Keep an alternative on the table
Bridging finance may not be suitable or available. Selling first, adjusting settlement dates or changing the purchase plan may reduce risk in some circumstances. Get legal advice before committing to either contract, particularly at auction.
Bring Blake into the conversation early
Share the estimated values, existing loan balance and proposed timeline. We can discuss what needs to be checked with a lender. No sale price, approval or settlement timeframe is guaranteed. Lending is subject to lender assessment and eligibility.