Short Term Property Funding

The definition of short-term property funding is not set in stone, but property loans with loan periods of less than one year are generally considered short-term loans. Some lenders may only allow a short-term loan of up to three months, while others can grant you a full-year term. However, note that your bridging finance rates are affected by the length of your short-term property loan term, the loan amount, and other factors.

At Bridgit, you can borrow up to $4,000,000, and you simply need to sell your existing property and settle your loan within 12 months. With bridging loans, homeowners can buy their next property without selling their homes immediately, so they can remove the need to spend a considerable amount of money on temporary storage or living spaces.

The typical term for mortgage short-term personal loans in Australia is anywhere from six to twenty-four months. Terms differ from one lender to another and can be affected by factors such as your credit profile, loan amount, and interest rate. Traditional lenders, like banks, are usually more strict with their terms as compared to online lenders, so if you want a flexible term, consider online loan providers.

To apply for a Bridgit bridging loan, simply submit your application online and possibly get 24-hour approval. Our friendly team will reach out and ask you to provide a few more essential details about yourself if needed. We will then let you know how much you can borrow and for how long. If you accept our offer, you will simply need to make a small deposit from $900, and you can make your way to a settlement in as little as a few days.

If you’ve been looking up ‘how to buy a house when you haven't sold yours’, then short-term property funding might help you. Bridging loans are a great gap financing solution, so if you need temporary funding while you are preparing your home for a sale or buying a new property, consider using short-term quick loans. Short-term property funding is not necessarily a last-resort option; it is an efficient financial solution that frees up your cash flow and enables you to make smart buying decisions for your old property as well as your new one.

Bridgit has an Aussie-based team ready to assist you in buying a new home and getting a bridge loan that fits your needs and preferences. Wondering about questions like ‘is a bridging loan a good idea?’ We will walk you through the available loan options and advise you on the ideal course of action to take – always keeping your needs in mind.

Bridgit offers competitive pricing for our bridge loan services, but at the same time, we are unique from the rest. Bridgit will take on your existing mortgage, so you don’t have to deal with double mortgages.

We also don’t charge early exit fees at all. Whether you choose to pay back your loan early or right on time, you don’t have to worry about such fees. There’s no need to pay for monthly repayments either; you pay for the entire loan amount by the end of your loan period after you have sold your property already.

While traditional lenders are stuck on their slow manual processes, we streamlined our short-term property funding process using our own cutting-edge technology, so you don’t have to miss out on amazing opportunities to buy your dream house.

Apply for short-term property funding at Bridgit now, or contact us if you have any questions about how we work.