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Alternative Home Loan Lenders

How to Maximise Property Equity With Alternative Home Loan Lenders

Finding reliable and efficient alternative home loan lenders, like Bridgit, has become more and more important for Aussie homeowners. We cater to the specific needs of modern borrowers by offering innovative bridging loans and making property transactions easier.

Let’s take a look at alternative lending and how Bridgit’s approach can help a variety of homeowners, from retirees looking to downsize to families in need of more space.

Bridgit’s Unique Approach to Bridging Loans
Why choose Bridgit’s bridging loan offers?

At Bridgit, we recognised the gap in the Australian market for efficient bridging loans, leading many to search for alternative home loan lenders that offer short term property loans in Australia.

That’s why we’ve stepped in with bridging loans tailored for today’s homeowners. Our bridging loans are short term loans secured against property – usually used to purchase a new property before selling an existing one. Since we began our operations in 2021, our mission has been to empower Aussies with immediate access to their property’s value.

Our innovative technology accelerates the process, making it possible for people to move from waiting on traditional, sluggish finance methods, to moving forward with life’s milestones with ease.

How do alternative home loan lenders differ from traditional banks?

Traditional banking systems often get bogged down with cumbersome, manual processes, stretching the short term property loan approval from several days to weeks. As a pioneer of alternative home loan lenders, Bridgit differs from traditional loan providers with custom-built technology to streamline the lending process.

We offer an online loan application that can be completed in five to ten minutes, with approval offers within twenty-four hours and settlements in just a few days. This efficient process starkly contrasts with the lengthy timelines associated with conventional banks, offering a much more convenient and user-friendly short term home loan experience for homeowners eager to move forward.

What are the benefits of choosing an alternative home loan lender?

Opting for alternative home loan lenders like Bridgit brings a host of benefits to discerning homeowners. Firstly, our bridging loans enable better decision-making, providing the luxury of time to secure the best deal on your current property. Notably, Bridgit eliminates the burden of double mortgages by refinancing your existing mortgage.

Our fast settlement process, often completed in just a few days, means no missed opportunities in securing your next dream home, especially for those looking into investment properties or unique property types.

Additionally, our affordable home financing solution saves customers from the costs associated with temporary living arrangements like rentals, storage, or multiple moves. With Bridgit, the journey to your next home can be faster and more cost-effective.

Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational purposes only and should not be taken as financial advice or recommendations. Any views are subject to change without notice at any time.
Owner-occupied
Investment

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

8.24

%
p.a.

Variable rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.33

%
p.a.
Comparison rate
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

8.74

%
p.a.

Variable rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.84

%
p.a.
Comparison rate
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees
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.
Get a quote

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

Get 24 hour approval

Apply nowSchedule a call

Why buy before you sell with Bridgit?

No income verification

We assess loans based on property equity and asset position.

No monthly repayments

No monthly repayments or fees for the duration of the loan term

No double mortages

We’ll pay your existing mortgage, so you don’t have to worry about two mortgages at once.

Save on temporary living

Move into your home sooner and avoid short-term rental, storage and moving costs.

No missed opportunities

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

Apply nowSchedule a call

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
Trustpilot

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.

Apply NowSchedule a call
Frequently Asked Questions (FAQ)

What types of alternative home loans do lenders offer?

At Bridgit, we cater to a variety of homeowners’ needs with our diverse short term lending options.

Our Downsizer Bridging Loan is one of the most suitable alternative to reverse mortgage options for empty nesters and retirees looking to cosy down in a smaller home, providing financial ease during this change. On the other hand, the Upsizer Bridging Loan is a short term mortgage option designed for families or individuals looking to upgrade to a larger space for the kids and pets to run around in.

For those with unique income situations, whether you’re self-employed or an irregular worker, our Low Doc Bridging Loans offer a flexible solution, accommodating non-traditional proofs of income with a common sense approach.

What criteria do alternative home loan lenders have?

At Bridgit, our criteria for loan eligibility reflects our commitment to accessibility and inclusion. To qualify, you must have Australian citizenship or permanent residency, a valid government ID, a good credit history, and a property in Australia to borrow against.

Specific criteria vary based on your employment status.

PAYG income earners need proof of stable employment and income. Self-employed individuals must provide tax returns or an accountant’s declaration. Retirees, depending on their income situation, may have their income and pension verified.

How do I check if alternative home loan lenders are legit?

If you want to verify the legitimacy of any provider of non-traditional loans, check for an Australian Credit Licence number like the one prominently displayed on our website. Additionally, the ASIC website offers a reliable platform for proving that lenders are legitimate.

Lastly, customer reviews and industry accolades are a reflection of the community’s trust. For example, Bridgit was recognised with the Best Lending Innovation award at the Finder Innovation Awards 2023, a testament to our standing as reliable non-bank mortgage lenders in the housing finance and real estate loans market.

Bridgit – Made for Today’s Property Dreams

Understanding the unique challenges faced by homeowners, Bridgit was designed with a ‘tech first’ approach. This innovation allows us to offer Australians a more efficient way to manage their property transactions, so you can take the next step in your life without unnecessary delays.

Our approach is not just about speed; it’s about creating a more holistic and supportive lending experience. We’re proud to have a dedicated team committed to guiding and helping homeowners every step of the way. Whether it’s understanding the intricacies of bridging loans or navigating through the property market, they’re available to assist from 9 a.m. to 5:30 p.m. on weekdays.

So what are you waiting for? Move into your dream home without the pressure of selling your current one first, with Bridgit!

Bridging essentials

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Aussie based crew

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

Weekdays 9am – 5:30pm

1300 141 161
Apply nowSchedule a call
Find your BDM here

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.