You have outgrown your current home and need to upgrade. This means you either turn your current property into an investment and purchase a new property.

The other option is that you sell your current property and buy another. The latter could be quite stressful when trying to coordinate settlement of the sale of your existing property and the purchase of the new property. You want to avoid being left without a roof over your head.

Let us introduce you to bridging finance. If you don’t know what bridging finance, here’s how it works.

The bank will lend you money to purchase a new property with the condition that you sell your current property within 6 months. Most lenders will actually want to see your property on the market for sale with an agent. This allows you to settle and move into the new property and have time to sell/settle your existing property, removing the stress and chaos of selling and buying at the same time.

Here are 3 tips to consider