A cost effective Bridging Loan

Many people prefer to buy a new home before selling their existing one. That's why we’ve come up with a bridging loan to take the headache out of moving house.

Now you can upgrade to the right property at the right time without selling your current home first.

Get started

Move house on your terms.

Benefits of a Squirrel bridging loan:

  • Borrow up to 80% of the combined property value
  • Short term loans
  • Flexible payment options

When it comes to buying and selling we’ll look at all the options and help you work out the best strategy to buy and sell. Whether that’s our bridging loan or one from our banking partners, or if you even need to bridge at all.

Squirrel can fund up to 80% of the value of your new property and existing property combined.

  • The amount we are prepared to lend may be impacted by location or the type of house
  • This type of loan is only available for homeowners buying and selling their owner-occupied home.

See our current interest rates for bridging loans here

Two people shaking hands in front of Sold sign

Priority is given to existing Squirrel clients

We have limited funding available for bridging loans. If you need to bridge a loan, it's important that you get advice early in the process and that you lock in your funding (if required). 

How we prioritise funding:
  1. Existing Squirrel broker clients who purchased their last home through our advisers
  2. Existing client approvals
  3. New to Squirrel clients who have already purchased

Here's how it all works in a nutshell:

1. Get approved to buy a new home (subject to sale of yours)
2. Find a property
3. We'll arrange bridging finance
4. Sell your existing home
5. Bridging loan is repaid and your lending is moved to the bank
Got questions? Give us a bell

Call us on 0800 21 22 30

Are there any fees?

As with any bridging loan, there are fees involved. You can find out about Squirrel's home loan fees over here.

Townhouses in Hobsonville Point

We won't push you towards a product that doesn't work for you

Bridging loans are arranged by our mortgage advisers so the first step is to do an application for a new purchase. Your Squirrel adviser will get you approved for that with one of the banks and if the bank is happy to bridge your existing property then that will be the cheapest way of bridging. If they aren’t prepared to (and often they aren’t) that’s where Squirrel can step in. We can give you access to our bridging loan.

Once you buy and lock in our funding the rest of the bridging fee is payable. It doesn’t have to be paid until either the house sells or the loan draws down in which case the fee is added to the loan.

Kids walking on a bridge
Woman confused, shrugging

What's the alternative to a bridging finance?

You can buy with a long settlement date and then sell in the interim period. It would still reduce your risk for us to approve bridging finance just in case you don’t sell in time.

Alternatively you can sell first with a long settlement and then try to buy. The challenge with this approach is you might get locked out of the market or might not find the right property and compromise your next purchase.

Find out if our bridging loan is right for you

We'll happily chat through your situation and figure out what the best option is to suit. Give the friendly team a call, or fill in our application to give a bit more detail so we can get to know you faster.