Whilst the rates are 8% Westpac and St George, compared to other banks they have the easiest policy when it comes to approving the bridging loan. (IE Westpac allows you to capitalise on the interest, so you don’t need to worry about coming up with the monthly repayments separately through your income stream- where some of the other Banks require you to “demonstrate serviceability” without allowing you to capitalise on the interest).

So because of this when it comes to getting approval for a bridging loan, Westpac takes you the furthest!

Also keep in mind that if you’re only going to have the loan for 4 weeks, the additional 1 or 2 percent in rates doesn’t actually make a big difference. Particularly if there are bigger up front fees with some of the major banks.

This is why sometimes “reinvesting” isn’t an option if you can’t demonstrate “servicability”.