Bridge Mortgage Loans

Bridge Mortgage Loans 

Xceda can provide you with fast approvals to finance your short-term lending needs.

Bridging loans are a great way for customers to meet a defined short-term need where there is a clear source of repayment identified, and within a defined timeframe.

Key features of 
Xceda’s Bridge Mortgage Loans

Short Term Loan Purpose

These loans are typically used by Borrowers to meet a short-term need (3-24 months). This could be for a property purchase, to release equity for a short-term project, or to use property as security for business finance needs.

Closed or Open Bridge Loans

Xceda can lend you funds until the occurrence of a specific event that is contractually bound to occur (e.g. the sale of a property) - this is known as a "closed bridge".  Or your repayment of the short-term loan can be an "open bridge" - i.e. you have identified a plan to repay the loan but this is not contractually certain at the time the loan is drawn. 

Types of Borrowers – Owner Occupier & Investors

These loans are offered by Xceda to both owner-occupiers and property investors.

• An owner occupier scenario is where a borrower has purchased a new home before selling their existing home, therefore needing a “bridge” until the existing home is sold.
• Investors may use this loan to make quick decisions on a property purchase before the property is rolled up into a larger property portfolio. Another example could be to "land bank" a residential property whilst they apply for Resource Consent for a larger development on the property.

Interest rates

From 9.95% to 12.95%. The actual interest rate will depend on the borrower's circumstances and the information verified during the assessment of a loan application.

Loan Amounts

Loans up to $2,500,000 subject to loan circumstances (e.g. location, eligibility criteria and lending limits).

Loan Terms

As a short term “bridge”, these loans are offered between 3 -24 months. Typically, the exit/repayment strategy is clearly defined.

Loan to Value (LVR)

Borrow up to 80% of the property value. LVR's above 70% are subject to available funding and price loading.  

Low Doc Option

For Borrowers that cannot verify their servicing capability, loans may still be granted up to 60% LVR.   

Repayment Structures

• Interest Only; 
• Principal and Interest; or 
• Capitalised interest structures are available in certain circumstances, particularly where the exit (i.e. repayment) is very clearly defined (often referred to as a “closed bridge loan”).