Frequently Asked Questions (FAQ)

What are alternatives to reverse mortgages?

The alternatives to reverse mortgage options are varied and cater to different financial needs.

Bridgit provides bridging loans as alternative home loan options, offering tailored financing solutions for seniors who are looking to take their next property step. Our loans allow you to buy a new home before you have sold your current property. It also allows you to convert equity that you currently own in a property to funds, allowing you to access more liquidity.

Moreover, our financial model is designed with your interests in mind, featuring an initial interest-free period and no monthly repayments, only a straightforward set-up fee. This doesn’t just let you save on temporary living and storage costs; it also spares you the burden of juggling double mortgages as we manage your existing mortgage payments.

How does downsizing to a smaller home serve as an alternative to a reverse mortgage?

Downsizing to smaller homes can be a strategic alternative to reverse mortgage solutions, and Bridgit can support this strategy. We enable homeowners to utilise their existing equity to buy a new home before they have sold.

At Bridgit, we revolutionise the home buying experience for Australians. We offer a unique opportunity to remove the traditional barriers you might face when selling your home before buying again. This includes avoiding hidden costs associated with temporary living, never being out of the property market and the ability to jump on property opportunities.

Our innovative approach combines cutting-edge technology to streamline the lending requirements for home purchase process, providing a hassle-free customer experience.

With a quick application process taking just five to ten minutes and the possibility of 24-hour approval, we streamline your journey to your new home. Settlement for these alternatives to reverse mortgage options can occur in as little as a few days.

Are there private financing options for seniors looking to tap into home equity without a reverse mortgage?

Yes, there are several private financing options available for seniors aiming to access their home equity without opting for a reverse mortgage. These include reverse mortgage alternatives like bridging loans, which are specifically designed to meet the unique financial needs of older homeowners.

Bridgit offers bridging loans that provide seniors with flexible, tailor-made property financing options to buy their next home. It’s crucial to evaluate these flexible home loan options carefully, considering the financial situation and long-term goal, to choose the most beneficial and suitable financial path.

Bridgit: Empowering Homeownership Dreams

In the heart of Australia’s bustling property market, Bridgit provides an innovative approach to your next property purchase, leveraging technology to make it simple for you to buy before you sell. Created in 2021, Bridgit addresses the critical gap in the market for specialised bridging loans.

Our core mission is to empower Aussies with a transformative short term loan against property option. With this, we want to enable homeowners to purchase their dream homes without the pressure of selling first. At Bridgit, we’re not just lenders; we’re pioneers in short term lending who are here to support you, using cutting-edge technology to streamline the short term home loan process.

This ‘tech first’ approach results in quick decisions, lightening the load and focusing on what truly matters – supporting homeowners on their journey and next property step. Bridgit’s dedication to providing these essential services aligns perfectly with the needs of today’s dynamic homeowners.

We’re not just about speed or providing alternatives to reverse mortgage options; we’re about creating real opportunities for Australians to progress in life. Get your dream home with Bridgit!