Bridging Loan Meaning

Frequently Asked Questions (FAQ)

When should I consider a bridging loan?

For those who find themselves at the crossroads of property transactions, such as those who are looking to buy a new home before they sell their current one, a bridging loan emerges as a suitable solution.

Selling your home before buying a new one could mean added costs, such as temporary living and storage costs. Some people want a straightforward solution, and that’s why they might go from searching terms like ‘bridge loan meaning’ or ‘bridging loan meaning’.

Are there age restrictions for getting a bridging loan?

After looking up terms like ‘bridging loan meaning’ and perhaps even asking questions like ‘How do bridging loans work?’ on the web, it only makes sense for you to think about eligibility criteria – the first one being age restrictions for such short-term property loans. With this, it’s important to note that bridging loans have the same age requirement as most other loans, and that’s being eighteen years old or older.

At Bridgit, we believe that age should never be an obstacle when it comes to fulfilling your property aspirations. While the starting age needed to apply for bridging loans is eighteen, there is no upper limit after that for us.

It’s completely understandable that people’s housing preferences and needs change throughout the years.

For instance, those who are looking forward to starting a family would often opt to purchase a larger home so that they and their children or pets would have more space. On the other hand, older individuals, like senior citizens or retirees, might want to downsize their current setup so that they can have easier access to everything they need.

So, whichever situation you’re in, rest assured that we at Bridgit are committed to providing you with bridging loans. Not only are they straightforward to apply for, but settlement is also possible in as little as a few days.

Can I get a bridging loan if I’m self-employed?

Attempting to understand and go through the bridging loan process while being self-employed might seem daunting to many. Once you search for terms like ‘bridging loan meaning’ or ‘what is a bridging loan Australia’ on the web, you then quickly look at the bridging loan eligibility criteria to see if you can have a go. The good news is that at Bridgit, self-employed individuals can apply.

Whether you’re self-employed, retired, or a standard income earner, you can have the opportunity to receive residential bridging loans from us. For those who are self-employed, the two main pieces of information you would have to provide are your tax returns for two years and your accountant declaration.

Remember that your property aspirations are ours too, and we want to help you resolve your search for terms like ‘bridging loan meaning’ online and show you how to get a bridging loan in a straightforward manner.

For any questions or concerns, let’s unravel them together through our expert yet friendly customer support team.

Move past traditional processes with Bridgit

Established in 2021, Bridgit was born from the recognition that the Australian bridging loan industry was behind the times, burdened by outdated processes that often left homeowners stuck. But with vision, passion, and a modern mindset, we ushered in a convenient online process for those looking up terms like ‘bridging loan meaning’ or asking ‘How does a bridge loan work?’ online.

We believe that everyone should have the freedom to chase their dream home without the restrictions of having to sell their current one first. By leveraging cutting-edge technology, we provide a bridging loan Australia-wide that homeowners can rely on. Apply for a bridging loan today!