Set-up fee from 0.79%
Loans up to 12 months
Funding up to $8M
LVR up to 80%
Winner, Finder Innovation Awards
We assess loans based on property equity and asset position.
No monthly repayments. Repay your loan once your existing property has sold.
We’ll pay your existing mortgage, so you don’t have to worry about two mortgages at once.
Move into your home sooner and avoid short-term rental, storage and moving costs.
Don’t miss out because of slow processes, unlock your property equity in 24 hours.
Thinking of downsizing? Bridging loans are a great option for you to take control of your next purchase, hassle free and without having to sell first.
The most common approach when downsizing is to sell your existing property first. But this comes with unknown hassles and costs, you might require a temporary living situation before buying again, you might feel the pressure to get back into the market purchasing a property that you don’t love, or you might miss out on an opportunity while waiting to sell.
A bridging loan helps you avoid these problems.
Thinking of downsizing? Bridging loans are a great option for you to take control of your next purchase, without having to sell first.
Finding the right home to downsize into is hard, with the most common approach being to sell your existing property first to access to the funds and then find the next home. You can do your best to align settlements on the purchases, but you might require a temporary living situation between the sale, which comes with added hassle and cost. More importantly, you might feel the pressure to get back into the market and purchase a new property that you don’t love. This is where a downsizing bridging loan can be handy.
With a downsizing bridging loan, you can spend the time to find the perfect property and purchase using a bridging loan which gives you access to the equity in your existing home, without having to sell it. You can then go about organising the sale of your new home, selling in the same market you bought in. When downsizing, bridging loans are a compelling option.
For downsizing bridging loans, it can be difficult and time consuming to get approval from traditional banks as they have a one size fits all approach to lending, and downsizers without an income are unlikely to be approved. Plus, due to the shorter loan period, they are not interested in servicing such a product and instead, deter homeowners towards their 30 year mortgages options. Unfortunately, by the time you are approved, your dream home is often no longer up for sale.
At Bridgit, a downsizing bridging loan does not require you to have an income , we simply take into account the value your existing home to approve you for the bridging loan. You won’t always need to provide income verification, although in some cases we may need confirmation of super and pension income. Downsizing with a bridging loan, has the added benefit of not requiring a mortgage at the end of the bridging period.
A bridging loan allows you to downsize before or during the selling process of your current home. The loan will be secured against your property equity, not your income, making it perfect if you are retired or semi retired. And at Bridgit we offer, 24 hour approvals and a customer service team here to help you.
You can use a bridging loan to secure your next perfect home, including:
Set-up fee from 0.79%
Loans up to 12 months
Funding up to $8M
LVR up to 80%
No repayments until maturity
Apply online in under 5 minutes and get 24 hour approval. Don’t miss the opportunity to buy your dream home today.
No monthly repayments and up to a 12 month loan term, giving you plenty of time to sell your existing property.
Our specialist team is here to support you every step of the way.
“I’m self-employed which is an obstacle that the banks have to take more time processing. Bridgit were accommodating and were able to provide a fast and effective solution.”
“The process was so quick and easy with Bridgit, I managed to sign my declaration between the 10th and 11th hole at my golf course.”
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Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.
Accept your loan offer by making a small upfront deposit and progress your application to the next stage.
Once we’ve valued the property and completed final verifications, sign the documents and you are on your way to settlement in as little as 48hrs*.
Sell your existing property and pay down your Bridgit loan. No rush, you have up to 12 months.
Apply online and receive same day approval. Tell us some details about yourself and see how much you can borrow.
Accept your loan offer by making a small upfront deposit and progress your application to the next stage.
Once we’ve valued the property and completed final verifications, sign the documents and you are on your way to settlement in as little as 48hrs*.
Sell your existing property and pay down your Bridgit loan. No rush, you have up to 6 months.
21 Feb 2022
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
14 Feb 2022
The priority that was placed on this file and constant updates was truly appreciated. Thank you for using common sense and finding a solution for our client’s needs on an oddly zoned security.
- Nicole Fox
20 Jan 2021
During the stressful times of obtaining Finance, the BRIDGIT Team came to the fore. We are most grateful for their advice and support.
- MTW
22 Dec 2021
The team at Bridgit were remarkably talented and understands the pressing issues the situation demands. I cannot thank them enough for stepping up to a life saving situation for customers.
- Jehan Fernando
20 Dec 2021
We are so happy we chose Bridgit over a bank. Tom, George and Ken assisted us all the way. They explained everything and made the process easy and stress free. We cannot recommend Bridgit highly enough.
- Felicity F
13 Dec 2021
Bridgit was phenomenal in getting our pre-approval ready (within hours!). Easy to deal with and they knew exactly where my application was at.
- NH
13 Dec 2021
I had never dealt with Bridging Finance as a Broker previously & Bridgit made the process quick & simple. I could get quick help & support that helped me navigate my first Bridging Finance application.
- Chris
13 Dec 2021
I approached Bridgit with a scenario that needed to be settled within 12 days. The deal was lodged within 48 hours. My clients achieved a great result in the time frame required.
- Benjamin Sutton
13 Dec 2021
If you're thinking about getting a bridging loan I'd recommend giving Bridgit a try. I found Bridgit to be way more efficient than the big banks. The communication was great too.
- Michael
07 Feb 2024
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
11 Nov 2023
The priority that was placed on this file and constant updates was truly appreciated. Thank you for using common sense and finding a solution for our client’s needs on an oddly zoned security.
- Nicole Fox
11 Nov 2023
During the stressful times of obtaining Finance, the BRIDGIT Team came to the fore. We are most grateful for their advice and support.
- MTW
20 Oct 2022
The team at Bridgit were remarkably talented and understands the pressing issues the situation demands. I cannot thank them enough for stepping up to a life saving situation for customers.
- Jehan Fernando
24 Jun 2022
We are so happy we chose Bridgit over a bank. Tom, George and Ken assisted us all the way. They explained everything and made the process easy and stress free. We cannot recommend Bridgit highly enough.
- Felicity F
20 Dec 2021
If you're thinking about getting a bridging loan I'd recommend giving Bridgit a try. I found Bridgit to be way more efficient than the big banks. The communication was great too.
- Michael
20 Dec 2021
Bridgit was phenomenal in getting our pre-approval ready (within hours!). Easy to deal with and they knew exactly where my application was at.
- NH
21 Feb 2022
I had never dealt with Bridging Finance as a Broker previously & Bridgit made the process quick & simple. I could get quick help & support that helped me navigate my first Bridging Finance application.
- Chris
23 Nov 2022
I approached Bridgit with a scenario that needed to be settled within 12 days. The deal was lodged within 48 hours. My clients achieved a great result in the time frame required.
- Benjamin Sutton
With a downsizing bridging loan, you can spend the time to find the perfect property and purchase using a bridging loan which gives you access to the equity in your existing home, without having to sell it. You can then go about organising the sale of your new home, selling in the same market you bought in. When downsizing, bridging loans are a compelling option.
For downsizing bridging loans, it can be difficult and time consuming to get approval from traditional banks as they have a one size fits all approach to lending, and downsizers without an income are unlikely to be approved. Plus, due to the shorter loan period, they are not interested in servicing such a product and instead, deter homeowners towards their 30 year mortgages options. Unfortunately, by the time you are approved, your dream home is often no longer up for sale.
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 where a minimum repayment of 40% of the initial loan amount is made within the first 6 months of the loan commencing. 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. A minimum repayment of 40% of the initial loan amount must be made within the initial 6 months to remain on the introductory rate. This can be achieved through sale of a property or other contributions.
