Funding offers fast and easy bridging loans, providing flexibility and assurance for homeowners buying a new property. Available for low- and no-doc borrowers, the lender provides short-term finance when few others will.
These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Funding is an online lender that offers short-term property finance solutions like bridging loans. Borrowers looking to move into their next property before their existing property sells can benefit from competitive fixed loan rates and fast access to finance.
Compare Funding loans
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We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these
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Funding key facts
Funding offers loans for vacant land, personal loans, business loans and Australian Taxation Office (ATO) debts.
Decisions are usually made within 3–5 days.
The interest rates are personalised according to borrower risk but start from 7.95%.
You need at least 30% deposit for a bridging loan and ideally 35%, meaning this is for existing borrowers switching to new homes.
Review by our senior home loans writer Rebecca Pike.
Funding bridging loan key features
Here are the key features and details you need to know about Funding's mortgage products.
Feature
Details
Minimum deposit
Funding bridging loans require no more than 70% loan to value ratio (LVR). This means you can borrow up to 70% of the property value for a bridging loan.
No offset account
Because it is a short-term bridging loan, it does not offer features like offset accounts.
Rates
Funding offers "rate for risk" interest rates, which means they start at 7.95% but may be higher depending on your circumstances. The bridging loans have fixed rates only as the loan terms are fixed at 1–36 months.
Interest only repayments
You only repay the interest during the bridging loan term. When the term ends, you repay the principal loan amount plus accrued capitalised interest
How do I apply for a Funding bridging loan?
To apply for a Funding bridging loan, visit its website and get an express quote. You’ll go through conditional approval and then formal approval once the lender has done its due diligence in assessing your application.
Eligibility
Age. You must be over 18 years of age.
Residency. You can be an individual, company or trust borrowing for personal or business.
Employment. Non-residents and low-doc borrowers are accepted.
Documents required
📄 Information on existing property. The lender will use your existing property as security in case you are unable to repay the loan. 📄 Proof of identification. This covers your drivers’ license or passport.
📄 Proof of income. You must prove that you can meet your repayments.
Not everyone will need a bridging loan, but it’s helpful if you’re waiting for your home to sell. If you’ve found your dream home but haven’t sold your existing property yet, taking out a bridging loan can give you the flexibility to purchase early.
Consider how important it is that you purchase the property sooner as you will end up paying more in interest with the bridging loan. You also need to be confident that you will sell your existing property within the agreed-upon loan term.
Are there any risks to taking out a bridging loan?
There are always some risks involved with loans and bridging loans are no exception. The biggest risk is if you can't sell your property within the loan term. Your existing property will be used as security, so Funding can sell your home if you can't pay. This will also affect your credit score.
Like other lenders, Funding holds an Australian Credit Licence and is regulated by the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Compare other home loan options
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We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these
):
What is Finder Score?
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 562 Finder guides across topics including:
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