This article was written when Bridgit was known as TechLend, we rebranded in early 2022 to Bridgit.
Just two months into our journey of becoming Australia’s first choice for non-bank lending, we are thrilled to announce we have hit $100M in loan applications from right across the country. TechLend has experienced unprecedented demand for our same day pre-approved bridging loans, with lockdowns seemingly having no effect on the market as virtual inspections and auctions become widely accepted.
In today’s fiercely competitive residential property market, the traditional lending structures have seen long delays in approval times and have left homeowners with increased fears of missed property opportunities. This rise in demand and subsequent backlog of applications for home loans has placed a spotlight on the outdated lending structures currently in place and the fundamental need for market disruption.
Earlier this month, TechLend was featured in the Australian Broker in an article highlighting the lending markets’ desperate need for innovation with surging demand, topped at a record $32 billion in the month of May, a 95% increase over the same time last year. This unmatched demand highlights the motivation behind our exponential growth since launch in July, and the potential future product development.
As a technology company, TechLend adopts customised and personal lending solutions to redesign the experience of buying and selling property. Unlike the big banks, we understand that every homeowner has their unique scenario and do not believe in a ‘one size fits all approach’, which is why our flexible criteria caters to everyone, including anyone who may find it difficult to provide conventional proof of income.
TechLend’s bridging loan products are here to disrupt the existing outdated market by offering homeowners:
– Same day pre-approval and funding within 48hrs
– Interest free bridging loans covering up to 100% purchase price + stamp duty
– Seamless 5-minute online application experience
To apply for a bridging loan today, click here.
When negotiations for a same-day settlement fell through, this homeowner’s broker reached out to Bridgit in need of urgent bridging finance.
Bridgit has been named a finalist in the Best Lending Innovation category of the Finder Innovation Awards 2023 – the same category it won last year.
Bridgit has won the title of Best Lending Innovation at the Finder Innovation Awards 2023. This comes hot on the heels of news that Bridgit was a finalist in Finder’s annual awards program, which recognises Australia's most forward-thinking businesses.