A bridge loan is a short-term loan, intended for 25 months, in which borrowers pay a monthly installment of interest only and the principal is repaid at the end of the period.
The Benleumi offers a bridge loan in various plans:
- Fixed interest CPI linked loan
- 3-month variable LIBOR interest foreign currency linked loan
- Non-linked loan based on the PRIME interest rate
The bridge loan can be paid at an earlier date without payment of interest differential capitalization fees.
Who might benefit from this loan?
This loan is intended for instances in which there are a difference between the date of collecting the consideration for the sale of the apartment and between the date for paying the consideration for the new apartment.