What is a bridging loan?

If you’ve found the perfect home but haven’t yet sold your current property, bridging finance can help you act without delay. It’s a practical solution that allows you to secure your next home while giving you the time to sell your existing property at the right moment.

Whether you’re trying to lock in a new property before prices rise or need extra breathing room to maximize the sale of your current home, a bridging loan can smooth the process.

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How Does Bridging Finance Work?

A bridging loan is designed to bridge the gap—helping you purchase your new property before you’ve sold your current one. In simple terms, the lender will cover both your existing mortgage and the cost of your new home, including any associated fees such as stamp duty and legal costs. This total amount is referred to as your Peak Debt.

With Bridgit, during the bridging period, you don’t need to worry about making repayments on both properties.

Once your current property is sold, the proceeds reduce the Peak Debt, leaving you with what’s called the End Debt. This remaining balance then transitions into a regular home loan with another lender.

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Questions?

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The Advantages of Bridging Finance

Bridging finance offers several key benefits for homeowners who need flexibility when making their next property purchase:

• Seize Opportunities in a Rising Market: With a bridging loan, you can secure your new home before prices climb, giving you the advantage of locking in your next property at today’s value.
• Access Equity to Maximize Your Sale Price: Bridging allows you to tap into your home’s equity to conduct value-adding cosmetic improvements, helping to increase your home's value prior to sale. Take the time you need to present your current home in its best light and sell at a favorable price.
• Avoid Temporary Living Costs: Bridging finance helps you avoid the expense and hassle of moving into temporary accommodation while waiting to sell your current home. You can move directly into your new property and stay settled.
• Added flexibility on Settlement Dates: Sellers could lose a deposit or face a penalty if their sale unexpectedly falls through at the last minute. Bridging finance eliminates this pressure, allowing you to manage one transaction at a time, reducing stress and ensuring a smoother process.

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Why Choose Bridgit for Your Bridging Loan?

At Bridgit, we specialize in making the bridging loan process as fast and efficient as possible. Our tech-driven approach allows you to get approved in as little as 24 hours, with settlement possible within 48. We offer loans up to $8 million and allow you to borrow up to 80% of your property’s value—all without the traditional delays and complications.

• Speed and Convenience: Apply online in under 10 minutes and receive conditional approval within 24 hours.
• No Monthly Repayments: You won’t need to make repayments during the bridging period, so you can focus on selling your current property.
• Flexible Loan Amounts: Borrow up to $8 million with competitive rates that fit your financial needs.

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Take the Next Step with Bridgit

If you’re ready to buy your next home before selling your current one, Bridgit’s bridging loans provide the speed, flexibility, and support you need. Apply today and make your next move with confidence.