One Bridging Loan Covering Refinance, Settlement and Sale
Purpose
Separation, Settlement, Refinance and Property Preparation for Sale
Security
Owner Occupied Residential Property
Location
Gold Coast, QLD (CAT 1)
Loan Amount & LVR
$600,00 Peak LVR 40%
Scenario
Mr. X and his long-term partner jointly owned a home in a Category 1 location on the Gold Coast. Following their separation, Mr. X required funding to refinance the existing home loan, pay out his ex-partner and remove them from the property title, all as part of a single settlement.
The key challenge was consolidating these requirements into one facility. In addition to the refinance and separation settlement, the client needed further funds to complete minor renovations, ensuring the property presented at its best before going to market.
His exit strategy was clear: sell the property, downsize into a more suitable home and repay the loan from the sale proceeds, becoming debt free.
How did Brighten help?
Brighten provided a tailored single security, no end debt bridging loan solution through the Brighten Connect product. With a low Peak LVR of just 40%, the applicant held a strong equity position, enabling us to support the refinance, equity release and separation settlement within a single facility.
The additional funds allowed the client to complete renovations prior to sale, while the bridging structure provided the flexibility needed until the property was sold.
The solution aligned with the applicant’s clear exit strategy of downsizing and repaying the loan from the sale proceeds, resolving the refinance, settlement and property preparation requirements in one streamlined facility.