In the ever-evolving world of real estate, seizing opportunities swiftly and strategically is the key to success. At Mango Mortgages, we understand the unique dynamics of the Australian property market, and we’re here to help you.
Our short term property loans aren’t just about funds; they’re about realising your property dreams with unmatched speed, flexibility and affordability. Whether you’re a seasoned investor or a first-time buyer, we have the financial solutions that open doors and redefine possibilities.
What are short term property loans?
Short term property loans, also known as short-term property financing or bridging loans, are financial instruments designed to provide quick and flexible access to capital for real estate investments. These loans are typically intended for relatively short durations, such as a few months to a few years, and serve as a bridge between a borrower’s immediate need for funds and a longer-term financing solution, like a traditional mortgage.
The pros of short term property loans
Short term property loans are often used by real estate investors, developers or individuals seeking to purchase, renovate or refinance a property. They offer several key features:
Get the funding you need precisely when you need it. No more waiting for weeks; our short term property loans ensure you seize opportunities without delay. Quick approvals mean you stay ahead in the dynamic property market.
Enjoy a loan tailored to your unique needs and financial situation. Our flexible terms and customised repayment options put you in the driver’s seat, offering control and peace of mind. Adapt your loan to match your property investment strategy effortlessly.
Competitive Interest Rates
Benefit from significant savings with some of the most competitive interest rates available. With lower rates, more of your money goes into property investment, which makes your goals more achievable. Let your investments flourish with our cost-effective short term property loans.
No Hidden Surprises
Bid farewell to the frustration of hidden fees and complex paperwork. We maintain transparency throughout our simple application process, so you can stay focused on your property investment, not buried in the fine print. Expect clarity, simplicity and a hassle-free experience.
Short term property loans can be used for various purposes, including property acquisition, renovation, refinancing or covering holding costs until a property is sold or a long-term mortgage secured. They help you to make the most of every opportunity and reach your property goals with confidence.
How to apply for short term property loans
Lenders may have varying application requirements and procedures when it comes to short-term property loans. At Mango Mortgages, we’ve streamlined the process to make it easy for you. You can initiate the process by reaching out to us via phone, email or our convenient online application form. Once we receive your inquiry or application, we promptly send you an initial estimate that outlines interest rates, associated costs, loan structure and the necessary documentation.
If you find our proposal favorable, we proceed to provide you with a formal, comprehensive offer letter. Upon your acceptance, you’ll need to return the signed offer along with the required documents. At this point, we’ll engage our legal team to prepare security documents or arrange a property valuation, if necessary.
Once we have the required security documents in place, we finalise the process with a seamless electronic transfer of funds, ensuring that you have access to the financial support you need promptly. Click here to start your application for a short-term property loan today.
Q: What is a short term property loan in Australia?
A: A short term property loan in Australia is a financing option designed for real estate needs that require quick capital access. It typically has a duration of several months to a few years and is used for purposes like property acquisition, renovation or covering holding costs.
Q: What is the shortest term loan?
A: The shortest term loan typically depends on the lender and the specific loan product. In Australia, short term loans can range from a few months to a few years. The specific loan term can be negotiated between the borrower and the lender based on the borrower’s needs and the lender’s terms.
Q: What is a short term loan to sell a house?
A: A short term loan to sell a house, often referred to as a bridging loan, is a temporary financing solution used by homeowners who are purchasing a new home before selling their existing one. It helps cover the down payment or the cost of the new property before the sale of the current one is finalised. Once the current property is sold, the proceeds are used to repay the bridginng loan.
Q: Why would anyone want a short term mortgage?
A: People opt for a short-term mortgage for various reasons. Short-term mortgages typically offer lower interest rates compared to longer-term options. They are ideal for those who plan to pay off their homes quickly, want to save on interest or have confidence in their ability to manage higher monthly payments.
Q: What is a good rate for a short term loan?
A: A ‘good’ rate for a short term loan depends on several factors, including the prevailing market rates, the lender’s terms, the borrower’s creditworthiness and the specific loan terms.
Q: Is a bridging loan a good idea?
Whether a bridging loan is a good idea depends on your individual circumstances and needs. Bridging loans can be beneficial when you need to purchase a new property before selling your existing one. It’s essential to assess your financial situation, the real estate market conditions and your ability to manage the financial obligations associated with a bridging loan to determine if it’s the right choice for you. Consulting with a financial advisor is often recommended.
Q: What documentation is typically required for a short term property loan application in Australia?
A: The documentation requirements for a short term property loan application may vary among lenders, but they often include proof of identity, income verification, property details and loan purpose documentation. Consider checking with the lender for specific requirements and ensure you have all necessary documents prepared when applying for a short term property loan.
Get started! Contact us today.
We offer short-term first mortgages, fast second mortgages, caveat loans, home equity loans and business loans. And you can quickly and easily apply online.