Buy your next property on your terms

24 hour bridging loan approval

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Bridge Finance

When you’re ready to move into a new home, bridge finance can help you purchase your desired property without rushing to sell your existing one. For example, some people look to downsize their property for a smaller, more manageable property, while others wish to upsize for more room for their assets or growing family. Whatever the reason for moving is, the typical scenario is that people will sell their existing property first to afford the new property.

Often this can be a stressful and inconvenient experience as once the existing property is sold, you may not have found a new home and need to move your belongings into temporary storage or a short-term rental. This results in additional moving costs, forcing you to find a new property quickly. Bridge financing enables you to enjoy the process of moving into your dream home, save on temporary living and moving costs, and make better decisions without having to rush the sale of your existing property.

Bridgit offers gap financing solutions for property in the form of a short-term bridging loan. With Bridgit, you can borrow against your existing equity to purchase your next property and worry about selling your existing one later. If you have questions like ‘what is a bridge loan?’ or ‘how long can you have a bridging loan for?’ our fantastic customer service team will be happy to assist you.

Learn more about bridge finance below to determine which bridging loan provider is right for you.
Owner-occupied
Investment

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

Variable Bridge Rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.24

%
p.a.
Comparison rate^

8.33

%
p.a.

Bridge Rate from

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.24

%
p.a.
Comparison rate^ from
All rates are variable

8.33

%
p.a.
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

Variable Bridge Rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.74

%
p.a.
Comparison rate^

8.84

%
p.a.

Bridge Rate from

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.24

%
p.a.

Stay Rate1 from

7.29

%
p.a.
The Bridge Rate applies at the start of the loan term. After the existing properties are sold and there is a residual loan balance remaining, the Stay Rate1 is applied.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i
Comparison rate^ from
All rates are variable

7.44

%
p.a.
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees

Get 24 hour approval

Apply nowSchedule a call

Why buy before you sell with Bridgit?

No income verification

We assess loans based on property equity and asset position.

No monthly repayments

No monthly repayments or fees for the duration of the loan term

No double mortages

We’ll pay your existing mortgage, so you don’t have to worry about two mortgages at once.

Save on temporary living

Move into your home sooner and avoid short-term rental, storage and moving costs.

No missed opportunities

Don’t miss out because of slow processes, unlock your property equity in 24 hours.

Apply nowSchedule a call

Trusted by customers
who Bridgit

Customer Service at its best.

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

Going above and beyond for results

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

Great Team

During the stressful times of obtaining Finance, the BRIDGIT Team came to thefore. We are most grateful for their advice and support.
- MTW

The team at Bridgit were remarkably talented

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

We are so happy we chose Bridgit

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

Definitely worth a try

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
Trustpilot

Get 24 hour approval with Bridgit

01

Submit application

Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.

02

Accept the offer

Accept your loan offer by making a small upfront deposit and progress your application to the next stage.

03

Purchase your property

Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.

*Subject to the loan scenario and outgoing lender processes onrefinance (if applicable).

04

Sell

Sell your existing property and pay down your Bridgit loan. No rush, you have up to 12 months.

Apply NowSchedule a call
Is it difficult to get a bridging loan?
Compared to other kinds of loans, bridging property finance is more complex, so it’s not surprising that traditional lenders take longer to process applications for bridge finance. Getting short-term property funding can be difficult if you choose to work with a lender that doesn’t have a streamlined or digital lending process yet.

With Bridgit, you can enjoy a hassle-free experience from when you apply for a bridge loan, to releasing the equity, to getting the funds released, to settling your loan. Our application process is completely digital, so we can move quickly and approve your application within 24 hours. We simply assess your eligibility for the loan by asking a few questions about the property you are selling and the property you are buying as well as your financial position. We then digitally verify your identity. You can receive the funds in as little as a few days after processing your loan and mortgage documents.

Do I need a deposit for bridging finance?
When it comes to making deposits for bridge finance, some lenders require a deposit to release your funds, while some don’t. With bridge financing, the lender will provide you with funds depending on the value of your existing property equity, and once the property is sold, the proceeds will be used to pay off your loan. You need to settle the loan within the bridging period that you and the lender have both agreed to.

At Bridgit, you only need to make a deposit from $900 to accept your conditional approval offer, and you can enjoy a loan term of up to 12 months. However, this is taken off your total loan amount when you settle. This means that you just need to sell your existing property and settle your Bridgit loan within 12 months. Our bridge finance option is among the most competitive in Australia as we don’t require any monthly repayments.

How much can I borrow on a bridging loan?
The amount of money you can borrow from a bridging finance service depends on several factors, such as the value of your property, the loan period, the bridging finance rates, and how much your lender is willing to lend you.

At Bridgit, you can borrow between $300,000 to $4,000,000 depending on the type of property you are buying, the kind of existing property you have, and the LVR or loan to value ratio. We can also go above or below this loan amount if the exception is approved. The LVR at Bridgit is as follows:

    • 80% for Residential Properties

What sets us apart is that we adjust our pricing and loan size according to risk.

Bridgit makes applying for bridge financing easier as we leverage advanced technology to streamline our lending processes and deliver the best experience for you. All it takes is five to ten minutes to complete the loan application, and your application can be approved within 24 hours. At Bridgit, our goal is to offer you a bridge finance solution that suits your needs and helps you progress in life.

Apply for bridge finance at Bridgit today! Our friendly loan specialists are ready to assist you if you’re unsure what loan works for you. Email us at hello@bridgit.com.au to speak with our team!

Bridging essentials

What is Bridging Finance & How does it work?
Is a type of bridge finance?
Who owns bridging finance?
What is bridging finance Australia?
A woman wearing headphones and a black shirt.

Aussie based crew

We’re here to help, if you have any questions get in touch.

Weekdays 9am – 5:30pm

1300 141 161
Apply nowSchedule a call
Find your BDM here

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.

1 The 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 0.79% and government charges apply.