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!