Advantage Go Between
Austral’s Advantage Go-Between Home Loan
Having a Go Between facility in place removes the pressure of having to sell your existing home quickly and perhaps at a lesser price.
Austral can provide a pre-approval for a Go-Between loan (subject to satisfactory valuations) for an amount of up to 80% of the value of both your existing home and the planned new purchase. If you have sufficient equity in your current home this enables you to refinance your existing mortgage and borrow 100% of the purchase price of the new home plus acquisition costs.
- The loan amount will include the provision for the capitalised interest for up to 6 months. Under our Go Between loan you are not required to make any interest repayments during the 6 months but always have the option to do so if you wish to. Unpaid interest capitalises i.e. the accumulated interest is added to the loan amount.
Most lenders will require payment of a portion of the interest during the bridging period.
- The Austral Advantage Go-Between loan gives you the option to include a 100% Offset account in your package. A 100% offset can deliver significant interest savings over the longer term.
This feature is not generally available with other lenders.
- The Austral Go-Between loan allows you redraw and to fix the rate at any time on the estimated end debt amount or part thereof.
Other lenders do not generally allow redraw or a fixed rate during the bridging period. If fixed rates are attractive you do not want to, miss the boat because you are still in bridging mode.
The 100% offset Go Between loan is ideal for upgraders or downsizers
Need some guidance?