Need to bridge the gap?
Temporary solution to bridge the gap between buying and selling real estate.
Temporary solution to bridge the gap between buying and selling real estate.
With Bridge Loan, you can seize opportunities when they arise, without having to make reservations about selling your existing property. This way, you can secure your new home on your own terms.
Bridge Loan allows you to give yourself more time to sell your older property
Maximum loan-to-value is based on real estate agent's valuation and is up to 80%
The rules of the Central Bank of Iceland regarding debt service ratio do not apply to this loan
Credit assessment is conducted before the loan is granted (married couples/cohabitants are assessed together)
The loan must be connected to the purchase of a new property and the sale of an older property
The loan is temporary, for a maximum of 12 months, and is in the form of an overdraft
A bridge loan gives you the freedom to make your own decisions without rushing the sale of your existing property. You can therefore take your next steps with peace of mind and ensure that you don't miss out on your dream property due to uncertainty.
Please feel free to contact us at ibudalan@arionbanki.is if you would like to discuss matters or get more information.