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Moment of the month - April 2022
Location: Chippendale, NSW
LVR: 39.1%
Loan Amount: $914K
Use of Funds: Downsizing
Scenario: The Aussie property market is always competitive, and the ability to apply and be approved for a property loan quickly can mean the difference between securing and missing out on your next dream home.
For Aussie homeowner Mark, this meant having same day approval from Bridgit so he could secure his property purchase with confidence and ease.
For Mark, securing a loan with Bridgit went a little like this:
Mark found a home he loved that was going to Auction in a couple of days time, he hadn't sold his home or organised a finance solution yet but didn't want to miss out on the opportunity for the perfect property. Mark reached out to us here at Bridgit prior to the Auction, and after reviewing his application quickly, we were able to provide Mark with same day pre-approval so he could go to the Auction and bid with confidence. The best news is, Mark managed to secure the property at Auction!
A few days later, Mark went through the final steps to confirm his loan with us six weeks prior to settlement.
Congratulations on your purchase Mark!
That's our Bridgit moment of April.
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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.
1The Stay Rate will only apply if a repayment is made from the sale of Outgoing Properties (or another repayment method approved by us, at our discretion) and the repayment reduces the Amount You Owe to an amount that is equal to or less than your Residual Loan Balance.
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. For Upsizer loans, a Bridge Rate applies for the first 12 months, followed by a Stay Rate thereafter. For Downsizer loans, only the Bridge Rate applies. WARNING: This comparison rate is true only for the example provided and may not include all fees and charges. Different loan amounts, terms, or fee structures will result in different comparison rates. For interest-only periods, your loan balance does not reduce, meaning you may pay more interest over the life of the loan. Set-up fee from 0.60% and government charges apply.