Buy your next property on your terms

24 hour bridging loan approval

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Short Term Property Finance

Short-term property finance is an ideal gap financing solution if you want to buy a new house but don’t want to rush selling your home.

A bridging home loan enables people to buy and move into a new house without selling their existing homes immediately. It helps you save on moving fees and temporary storage costs, and time to find the right buyer for your old home. Bridgit aims to help people cut through the red tape and progress in their lives.

Bridgit offers fast, flexible, and secure short-term loans in Australia. We specialise in bridge finance to give Aussie homeowners the freedom to buy their dream home immediately without selling their existing property. We cater to the bridging property finance needs of downsizers – usually retirees who want a smaller, more manageable home – and upsizers, typically growing families looking for bigger homes. We will be happy to offer you a loan that is personalised to your needs.

Need a better understanding of a short-term bridging loan? To help you out, we’ve answered common questions related to short-term property finance below.

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.

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

Get 24 hour approval

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.

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.

Is it possible to make an offer on a new house pending finance?
When their short-term property finance is still pending, some people think the only offer on their table is to ‘take it or leave it’. On the contrary, you can make an offer to the seller even before your loan gets approved so long as you specify that the request is conditional on the finance. It’s up to the seller to decide whether they would accept your offer or not. If the seller agrees, the conditional offer does not legally bind you to the sale until the contracts have been formally exchanged.

You can borrow from $300,000 to $4,000,000 over a loan term of 12 months here at Bridgit, so more houses can fit within your budget. You have more freedom in choosing your new home since you can borrow against your existing property equity to afford your dream home right off the bat. We will also pay your existing mortgage, so you don’t have to worry about double mortgages.

How long does it take for property finance to be approved?
When you get short-term property finance from traditional lenders, such as banks, the process may take anywhere from a few weeks to months because they are typically stuck with a slow, manual system. You may have better luck with online lenders as their processes are usually digitalised, so your application can get approved in as little as a few days.

Bridgit uses custom technology to streamline the loaning process. We can approve loans within 24 hours and complete settlement in as little as a few days. You may submit your application online, which usually takes no more than ten minutes. After applying, you will also gain access to our customer portal for live updates on your loan application status.

We will offer you a personalised bridging loan interest rate according to your property equity, loan amount, credit profile, LVR, and other factors. You will have to make a small deposit from $900 and valuation payments to confirm your acceptance of our offer, and we can get the funds released into your account in no time. You can purchase your new home and move in as soon as possible. There’s no rush on selling your existing property – you have up to 12 months to sell and pay off your bridging loan.

What is a finance condition, and do I need one?
A finance condition protects buyers with pending short-term property finance when negotiating with sellers. It is a legal clause that states your condition to buy a property is still subject to finance. A finance condition is important because it gives you an ‘out’ and protects you from losing your deposit on a property you intend to buy in case there are problems with your financing, like finding out that your monthly repayments or interest rates are too high for you to afford.

With Bridgit home loans, you can focus on finding your dream home instead of worrying about excessive monthly repayments, interest rates, early exit fees, and hidden charges. We will not charge monthly repayments for your bridging loan term, so you don’t have to pay monthly fees or early exit fees - no matter when you settle your loan within the term.

There’s no need to pay for monthly repayments with Bridgit’s short-term property finance as well. You can pay for the entire loan balance when you finally sell your property. If there’s no more remaining balance after you make a property sale, we will release the security over your properties. If your property sale is insufficient to pay back your loan, you may refinance it with another lender who can give you a longer loan term, and we will partially lift the security over your property.

Apply for short-term property finance at Bridgit today, and take a step closer to your dream home!

Bridging essentials

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.