Traditional gap financing lenders, such as banks, are usually more strict with their loan terms and rates. On the other hand, online lenders may be more flexible with their bridging finance rates. For example, loan companies may offer more flexible rates when you have a stable income source, high monthly income, or good credit history.

At Bridgit, you can ensure you’ll get a fair deal for your short-term property funding. We will offer you a rate based on your desired loan amount, situation, and terms. We cater to both home upsizing and downsizing needs. If there is no withstanding loan balance after the property sale, we will immediately release the security over your property. In cases of upsizing, you may still have a remaining balance after selling your property. We will release the security of the property you have sold, and you may refinance the outstanding balance on the new home from lenders with longer loan terms.

Many lenders profit not only from interest rates but also from other charges, such as early exit fees. An early exit fee is incurred when a borrower settles their loan balance before the end of the loan period. With some loan contracts, you may have to pay early repayment fees, on top of the loan amount and interest fees, in case of an early loan settlement.

There’s no need to worry about early exit fees here at Bridgit. Our bridging finance rates remain attractive because we don’t charge our customers excessive charges and hidden fees. You can settle your loan as soon as you have sold your property and are ready to pay off your loan. Just because you have insufficient funds at the moment doesn’t mean you can’t progress in life. Our goal at Bridgit is to bridge that gap by allowing you to use your equity, helping you become the proud owner of your next dream home.

Your monthly loan repayments depend on the loan amount and the loan period. On top of that, you may have to pay interest fees and other charges used to calculate your bridging mortgage rates.

One of the best things about Bridgit bridging loans is that we don’t charge monthly repayments. You can simply pay us the lump sum after selling your property within your loan term. You can borrow between $300,000 to $4,000,000 over six months at Bridgit (borrowing more significant amounts may be possible, but we will need to review your application first).

Unlike traditional lenders stuck with slow manual processes, Bridgit has streamlined the loaning process with our state-of-the-art technology. With our online process, you may complete your application for a bridging loan in Melbourne, Sydney, or anywhere in Australia. It only takes about five to ten minutes to complete the application, and you can get approved within 24 hours.

Contact our service-minded and friendly Bridgit team for a bridging loan interest rate or any questions about your unique situation. Feel free to consult our team on which bridge home loan option from Bridgit will best fit your situation.

Getting started with a Bridgit loan is easy. Submit your online application and see how much you can borrow. Accept your loan offer with a small upfront deposit from $900 when your application is approved. Once the funds are released into your account, you can use them to pay off your existing mortgage and make a down payment for your new home. Afterwards, you can enjoy your new home, sell your existing property, and pay off your loan. There’s no rush – you have up to six months to complete the sale of your existing home.

We are eager to help you get closer to your dream home! Email us at hello@bridgit.com.au for more information about Bridgit bridging finance rates, or send your loan application online now.