Getting approval for a bridge loan in Sydney can take anywhere from a few hours to a few months, depending on who you choose. How long it takes to get a home bridging loan depends on factors such as your loan’s complexity and your lender’s processes. Traditional lenders have a slow and manual process, so expect their loan approvals to take considerably longer (weeks and months). On the other hand, online bridging finance loans may be approved faster due to digitalised processes.

Bridgit has custom advanced technology that streamlines the process of getting a bridge loan in Sydney and any part of Australia. Simply submit your online application via our platform, which only takes a few minutes. When we get back to you in under 24 hours, we will offer you a summary of your bridging finance rates. Make a small deposit from $900 to confirm your acceptance of our offer.

We will send you the verification documents via email so you can sign them electronically; you don’t even have to leave home to process your Bridgit loan application. We can get you approved within 24 hours and complete the settlement in as little as a few days.

A bridging home loan means you can borrow money against your property equity. This means you need to have some equity over your home to qualify for a bridge home loan. The required home equity to get bridge loans for real estate varies from lender to lender.

With Bridgit, you can use your existing property equity to borrow funds and purchase your next home. You can borrow anywhere from $300,000 to $4,000,000 over 12 months at Bridgit, with a 80% LVR on the combined value of the properties.

If your property sale is enough to settle your loan, we will release the security over your properties. Suppose you still have an outstanding balance after selling your property. In that case, we will partially release the security, and you may refinance the loan with another lender who can offer you a longer loan term.









Other income requirements for a Bridgit bridge loan in Sydney are as follows:

For PAYG income:

• Proof of at least six months of continuous employment
• Evidence of two months’ pay

For retirees with income:

• If upsizing, documents showing pension and super income may be reviewed

For retirees without income (downsizing only):

• No income verification required
• Pension and super income may also be reviewed

For the self-employed:

• Full document on tax returns for the last two years
• Alternative document of accountant declaration

In Australia, it is possible to claim a tax deduction on the interest rate of a home loan. With that, it is likely to have the mortgage rate and bridging loan interest rate also be deductible. However, specific conditions must be met to qualify for tax deductions on a bridge loan in Sydney. Properties that generate taxable income, such as investment properties, are tax-deductible, but it is unlikely to get a tax deduction on the loan interest of family homes.

Bridgit adjusts pricing and loan size based on risk. We can definitely help you when you have lower LVRs, higher-quality assets, and stronger credit profiles. We don’t charge monthly repayments or early exit fees, so you can settle your loan when ready.

We uphold transparency in all our transactions, so we’ll let you know if you incurred valuation fees, settlement fees, government fees, and the like. You may also ask our team anything about bridging loans and any questions you may have about the process.

No need to leave home to apply for a bridge loan in Sydney – submit your application at Bridgit now, and we’ll help finance your dream home!