What Is The Purpose Of A Bridge Loan

Trustscore 4.8

134 reviews

Buy now, sell later

From 8.24% p.a, 8.33% p.a comparison rate^

Set-up fee from 0.79%
Loans up to 12 months
Funding up to $8M
LVR up to 80%

Why Bridgit

24 hour approval

Progress quickly and buy with confidence. We will come back to you regarding an approval offer in under 24 hours.

No monthly repayments

Avoid the added stress of monthly fees. Repay your loan in one sum after the sale of your existing property.

No missed opportunities

Don't miss out because of slow processes, unlock your property equity in 24 hours.

The Bridgit Solution

At Bridgit, we’re all about helping Aussie homeowners unlock their property wealth. With our specialist bridging loan solution, you can unlock your property equity before you have sold your existing property. We can help you with:

  • Downsizing
  • Upsizing
  • Investing
  • Retirement living
  • Delayed settlements
  • Cosmetic renovations
  • Financial consolidation
  • Marital separation
Learn more
The Bridgit Loan Calculator

Buy now, sell later

$
$
$
$
Buy new property
(less contribution)
$800,000
Existing
mortgage
$500,000
Sell existing
property
$2,000,000
Your estimated loan calculation
Estimated principal amount
$1,300,000
Your cash after sale
$700,000
Estimated principal amount
$1,300,000
(LVR 43%)
Based on the information provided your Loan to Value Ratio (LVR) may be too high. To help you we require some additional information; feel free to get a quote or schedule a call with our team.

Please submit an application or quote to receive a detailed breakdown of your loan amount.

Buy now, sell later

From 8.24% p.a, 8.33% p.a comparison rate^

Set-up fee from 0.79%
Loans up to 12 months
Funding up to $8M
LVR up to 80%

Simple process, faster approval

Apply online in under 5 minutes and get 24 hour approval. Don’t miss the opportunity to buy your dream home today.

Apply now

Headache free,
stress free

No monthly repayments and up to a 12 month loan term, giving you plenty of time to sell your existing property.

Learn more

Expert support,
Aussie based

Our specialist team is here to support you every step of the way.

About us
Want to know more? Bridgit FAQs

Trusted by customers
who Bridgit

Customer Service at its best.

Everyone I dealt with at Bridgit was helpful and responsive. Candice (BDM) checked in with me regularly to make sure everything was going smoothly and Andrew kept me in the loop. I recommend Bridgit highly.
- Sue Farnham

Get 24 hour approval with Bridgit

01

Submit application

Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.

02

Accept the offer

Accept your loan offer by making a small upfront deposit and progress your application to the next stage.

03

Purchase your property

Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.

*Subject to the loan scenario and outgoing lender processes onrefinance (if applicable).

04

Sell

Sell your existing property and pay down your Bridgit loan. No rush, you have up to 12 months.

What Is The Purpose Of A Bridge Loan

Imagine this: you're scrolling through property listings, and a house catches your eye; upon closer inspection, you realise that this house has everything that you're looking for - it's the perfect dream home. There are many traditional financing options available to you, but you don't want to wait for their slow approval before you can buy this house. So you begin searching 'What Is The Purpose Of A Bridge Loan' online to find what you need to do to secure your dream home as soon as possible - bridging loans. However, with traditional financial institutions, it would still take weeks to secure settlement, and you're worried that by then, you might have missed the opportunity to buy your dream home. All too often, conventional lending policies and requirements fail to meet the unique and fast-paced needs of borrowers. However, instead of frantically searching for 'What Is Bridge Loan For A Mortgage' online looking for some kind of way to secure faster-bridging loans, look no further than Bridgit. As a non-bank lender, we connect Australian homeowners with flexible, modern, digital financing solutions that allow them to take the next step in their lives without the hassle of traditional lenders.

If you're tired of sorting through 'What Is The Purpose Of A Bridge Loan' results and coming up empty-handed, Bridgit has a range of fast bridging loan options for anyone curious about 'Where To Get A Bridging Loan' or 'What Is Bridge Loans For Homes' to get the financing they need to move forward with their living situation. If you are thinking of getting a smaller property with fewer distractions, consider our downsizer bridging loan option. If you need extra room to start a home business, our upsizer bridging loan might be the right option for you. For those who are self-employed or non-standard earners, we offer a low doc bridging loan that is open to alternative forms of verification so that you don't have to feel pressured to come up with conventional documents that don't apply to your situation. You don't have to make hasty decisions about selling off your current home quickly for less, as you can use the funds borrowed to move into your new place right away. You can also avoid unnecessary temporary storage and housing costs. Your existing mortgage is covered by the loan agreement, so you won't have to worry about having two mortgages at once. Finally, you can take advantage of our fast settlements to place a competitive bid on the new home you've been eyeing.

You don't have to waste any more time searching for 'Do Bridge Loans Still Exist' and 'Bridging Finance Examples'. Bridgit can help you find what you need. You can receive loans between $300,000 and $8,000,000, though these limits can be exceeded or lowered with approval. A set-up fee is included in the total loan amount, and there is a twelve-month loan term. To find out how much of a loan you qualify for, just fill out our online form. Within 24 hours, we will let you know if your loan application has been approved. When you find the terms to your satisfaction, you can proceed by paying an initial deposit. We can have your property valued by our experts assessing and valuing it, and within days of digitally signing the necessary documents, you can reach settlement. All that's left after that is for you to buy that new place and move right in. By getting access to your home's equity, you can buy a new home without having to sell your current one. If you have any concerns about 'bridging loan calculator' or 'short term bridging loans', don't hesitate to contact Bridgit's customer support today.

A woman wearing headphones and a black shirt.

Aussie based crew

We’re here to help, if you have any questions get in touch.

Weekdays 9am – 5:30pm

1300 141 161

Disclaimer

Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.

^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. 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.