Funding cosmetic improvements with bridging finance

Sometimes, all it takes is a fresh lick of paint to get a property looking its best. If your clients are preparing their property for sale, they want to do everything they can to maximise their return. With a few tweaks and cosmetic improvements, it’s possible to boost its appeal to potential buyers.

But did you know that bridging finance can be used to fund these small, non-structural improvements? With Connective Bridge, clients can tap into their home’s equity to spruce up their property.

Here’s how it works:

• Funds can be released for reasonable, cosmetic renovations that are non-structure in nature
• The 12-month loan terms include six months to renovate and a further six months to sell the home
• Best of all, they won’t need to make any repayments during this period, giving clients the freedom to focus on maximising the property’s value without added financial pressure.
• Remember - clients need to have their future living arrangements post-sale sorted, ensuring this is declared and verified at the time of application.

Case study: Here's how we helped a recent client

We recently supported clients who needed to refinance their existing mortgage and business loans (secured against their principal place of residence) while also unlocking funds to conduct value-adding cosmetic improvements before selling.

Let’s take a closer look at the loan scenario

• LVR: 35.98%
• Loan amount: $2,784,000
• Loan purpose: Refinance and cosmetic improvements
• Loan term: 12 months

The team released funds for premium removalists, full staging and landscaping with ongoing maintenance. With a 12-month term, the clients had time to complete the works, refinance their mortgage and business debt, and gain freedom to sell when the time is right.

If you have any questions on Connective Bridge or how bridging can help you reach more clients, schedule a call below.