Short Term Property Loan

Like other types of financing, there is no ‘one-size-fits-all’ short-term property loan that matches everyone’s definition. However, if you need funds to buy your dream home without selling your existing house immediately, then a bridging loan is a great option to consider. You can borrow against your property equity to pay for your existing mortgage, make the purchase of a new home, and even cover other expenses needed to move into your new home successfully.

You can borrow up to $4,000,000 at Bridgit (we may be able to go higher than this amount, but we will need to evaluate your application first). We adjust pricing and loan size according to your situation, meaning we can give you the best deal that is fair for you. We’ll offer you even better bridging finance rates if you have a low loan-to-value ratio (LVR), a strong credit history, and a high-quality asset.

To take out a short-term property loan, you typically need to visit your bank or lender to fill out their application forms in person. You would then have to come back multiple times to comply with the requirements and complete the necessary paperwork. Online lenders have made it much easier to get bridging property finance – you don’t even need to leave home as you can complete the process entirely online.

Bridgit uses its innovative technology to streamline the short-term borrowing process just for you. You can complete and submit your bridge finance application in under ten minutes and possibly get approval in 24 hours.

We’ll present you with a personalised loan offer – simply make a small deposit (from $900) to move forward with our offer, and we will do the valuation and verification processes. We will email you the documents, and you may sign them electronically for your utmost convenience. The funds will be released into your account once you have gone through the loan process, ready to be used for the purchase of your new home.

A short-term property loan typically has loan terms of less than a year. Some short-term lenders offer terms as short as three months, and others can give you up to a full year to repay your loan. Your loan term depends on various factors, including your lender’s terms, credit score, loan size, and equity over your existing property. In addition, consider the bridging loan interest rate you may have to pay over your loan period on top of your principal loan amount and other bridging fees.

Bridgit offers loan terms of up to 12 months, meaning you have a year to sell your home and pay back your loan – more than enough for most people to achieve a great property sale. What sets us apart from the competition is that we calculate your interest in advance. If you repay your loan early, your interest will be recalculated and your repayment amount reduced to reflect your actual term.

We don’t charge early exit fees, so you are free to settle your loan as soon as you are ready. We don’t charge monthly payments either, so you can simply pay for your loan in full by the end of your loan term or after you have successfully sold your existing house. In case there is a remaining loan balance after selling your house – usually, in an upsizing scenario – we will partially discharge your loan. You can have it refinanced by another lender of your choice who offers a longer loan term.

Bridgit is proud to have a local Aussie-based crew ready at your disposal. If you have questions about our bridging home loan offers, schedule a call with our friendly team, and we will be happy to address your questions. You can also trust us to help you during your settlement process, which can be completed in as little a few days after your loan application has been successfully verified.

Complete your loan application now at Bridgit! We will offer you a short-term bridging loan that is hard to beat by others.