Summary

Loan Amount: $1.88 million
Loan Type: Bridging loan
Security: First mortgage over Gymea Bay property and two units in Broadmeadows, VIC
Loan Term: 2 months
Problem: Mainstream lender delays risked settlement default
Solution: Bridging loan approved and settled within 48 hours

The year 2021 moved quickly, and for many borrowers, critical deadlines for refinancing or property settlements arrived faster than expected.

One of our long-term broker partners reached out to Bridging Loans with a client facing exactly this challenge. The client urgently needed a bridging loan to secure a property purchase in Gymea Bay. With just three days left until settlement, delays caused by a mainstream lender’s lengthy processes threatened to derail the deal entirely.

The client required a short two-month loan to provide breathing space while waiting for the bank’s final approval. Without fast action, settlement risked falling through, an outcome that would have been costly and stressful.

Our team at Bridging Loans stepped in quickly. Within 48 hours, we approved and settled a $1.88 million facility. The loan was secured by a first mortgage over the Gymea Bay property and supported by two additional residential units in Broadmeadows, VIC.

By acting fast, we helped the client meet their settlement deadline, avoid penalties, and move forward with confidence while waiting on longer-term finance.

At Bridging Loans, this is what we do best: stepping in when time is short, lenders are slow, and deadlines can’t be missed. If you need a short-term lending solution you can rely on, our team is ready to help.