Our team of bridging specialists are here to help.
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In a fast-moving real estate market, opportunities don’t wait. Prices can rise quickly, and before you know it, the dream home you’ve set your sights on might be snapped up by someone else.
That’s where bridging finance comes in as a strategic tool, allowing you to purchase your next home before selling your current one. By using a bridging loan, you can secure your new property without feeling rushed to sell your existing home—and even take advantage of potential price increases on both ends of the transaction.
Bridging finance is more than just a temporary solution—it’s a way to mitigate the challenges of a fluctuating property market. Instead of waiting for your current home to sell (and risking the loss of your ideal new home), you can act fast. This is especially useful when prices are rising, as you can lock in the price of your new home now, while allowing your current property more time to appreciate in value. Bridging finance effectively buys you that time—so you’re not forced into accepting a lower offer just to make your next move.
Another key benefit of bridging finance is the convenience it offers. Moving can be stressful enough without the added headache of having to arrange temporary accommodation or multiple moves. With a bridging loan, you can avoid these extra costs and the inconvenience of living in a stop-gap rental while waiting for your property to sell. Instead, you can transition smoothly into your new home and settle in, knowing you’ve secured your next property without rushing the sale of your current one.
Here’s how it plays out: a bridging loan covers the purchase of your new home before you’ve sold your current property. During this period, you’ll temporarily carry both properties. The total loan amount, often referred to as Peak Debt, includes the remaining balance on your existing mortgage, the cost of the new property, and any additional fees like stamp duty and legal costs.
At Bridgit we calculate interest upfront and include it in the total loan, meaning there are no monthly repayments^ during the loan term. This reduces financial pressure, allowing you to repay in one lump sum after selling your home. This means you can also tap into your home’s equity for renovations without worrying about monthly fees.
Bridging finance is ideal for buyers who need to act quickly in a competitive market. If you’re looking to secure a home but haven’t yet sold your current property, this type of loan offers a solution to move forward without delay. It’s also useful if you’re seeking to avoid the costs and inconveniences associated with temporary housing arrangements, as it allows you to stay in your current home until your new one is ready for you.
At Bridgit, we’ve streamlined the bridging loan process to make it as simple and quick as possible. With fast approvals in as little as 24 hours and settlement possible within 48 hours, we give you the speed you need to act on new opportunities.
Our loans allow you to borrow up to 80% of your property’s value, with flexible options designed to suit your unique financial situation.
For more information visit our rates and fees page.
If you’re looking to buy a new property before selling your current one, Bridgit’s bridging loans offer the speed, convenience, and flexibility to help you take that next step confidently.
Apply today and move forward with peace of mind.
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term where a minimum repayment of 40% of the initial loan amount is made within the first 6 months of the loan commencing. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. Comparison rates for interest only loans will not reduce your loan balance. This may mean you pay more interest over the life of the loan. Bridging Loan set up fee is from 0.79% and government charges apply. A minimum repayment of 40% of the initial loan amount must be made within the initial 6 months to remain on the introductory rate. This can be achieved through sale of a property or other contributions.
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This month, Colin Bentley, Head of Lending at Bridgit, takes us through why bridging is often misunderstood, and shares strategies to help you confidently present it as a valuable solution for your clients.
