For many retirees, accessing the equity in their home can be a powerful way to meet financial needs. It can often be the key to unlocking much-needed funds for things like home improvements or other urgent needs.
However, without a steady income stream, securing a loan can be difficult. Many traditional lenders shy away from supporting those without an income - even if they are asset rich, and willing to release that equity.
Rather than putting roadblocks and red tape in the way, Bridgit’s flexible approach helps Australians to access their property equity for their next step without the need to have an income stream, perfect for retirees.
Here’s how our BDM, Nik Thurgood, helped Andrew Dihm, Senior Credit Adviser at Flint Group secure a loan for his clients, a retired couple needing urgent access to cash.
Andrew’s clients had recently sold their home but were waiting on a delayed settlement. They needed funds to cover medical expenses and purchase a new car, but their existing lender wasn’t willing to help due to their lack of income.
They turned to Andrew for a solution that could free up the necessary cash before settlement.
Andrew partnered with Bridgit to secure a single-security bridging loan for his clients. This allowed them to refinance their existing mortgage and access their equity to release the necessary funds without having to wait for the sale of their home to be completed.
With Bridgit’s help, they were able to meet their immediate financial needs.
Thanks to the bridging loan, Andrew’s clients successfully released their equity, and had peace of mind and financial security during a challenging time.
Andrew reflected on his experience working with Bridgit:
“Working with Bridgit was an effortless experience. Their unique solutions and outstanding support enabled my clients to access their Single Asset bridging loan, providing the necessary funds for medical expenses during a delayed property settlement. I highly recommend Bridgit for their flexible products and customised approach."
Do you have a client who might benefit from Bridgit’s single-security bridging loan?
Schedule a call today and workshop a scenario with one of our specialists.
When negotiations for a same-day settlement fell through, this homeowner’s broker reached out to Bridgit in need of urgent bridging finance.
Meet Sue and Ralf - retirees from North NSW who were able to move into their dream retirement home with our fast and accessible single security bridging loan. Read more about Sue and Ralf’s story.
In the fast-paced world of real estate, timing can make all the difference. For one homeowner, navigating the usually lengthy process of securing a loan meant risking the loss of her dream home. Read more about how we helped this homeowner secure her next home to better suit her lifestyle - “I can clean this place in like half an hour!”
