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Land Lease Home Loans

Bridgit: An Alternative to Land Lease Home Loans

A Land Lease Home Loan is a housing finance solution that provides eligible individuals with loans to purchase land lease properties – for example, retirement or community homes. However, you’re not limited to them when it comes to financing your land lease home needs.

Bridgit’s bridging loans offer a way to finance your dream home, even if it is a land lease property. Bridgit’s short-term property loans allow you to buy a new property before you have sold, tapping into existing home equity to purchase your land lease home.

What are land lease home loans?

A general overview

When you buy a home, you usually also buy the land that your home is on. However, there’s another option: to purchase a property, which is a land lease.

There are short-term property loan options that allow people to purchase just the dwelling (or the house itself), which are similar to a normal home loan.

These short-term home loans for land lease property purchases are far and in between, with a lot of lenders not offering this product type due to their lending criteria.

However, it’s important to be aware that you’re not limited Land Lease Home Loans when considering this type of purchase.

Considering alternatives

There are alternative home loans out there that you could consider when purchasing a land lease property type.

At Bridgit, we’re here to show you how you could use bridging loans to purchase your dream land lease home on your terms.

Buy your dream home with Bridgit

Offering alternatives to Land Lease Home Loans

Instead of considering Land Lease Home Loans, wouldn’t you like the ability to purchase your next home on your own terms? Bridgit’s bridging loans are short-term loans secured against property that allow eligible applicants to tap into the current equity of their home before they have sold to buy their dream retirement or community home.

This allows individuals to seize opportunities and purchase their dream home before they have sold, avoiding the traditional obstacles that come with buying before selling. Whether that be the requirement of finding a short term rental, having to move multiple times, the hidden costs that come with this, or missing out on that dream property because you haven’t sold yet.

Providing convenience through technology

We know how competitive the real estate market can be, which is why our platform is powered by advanced technology to give our customers the best chance at securing their dream homes.

Applicants only need five to ten minutes to complete the application process. Approval could be secured within twenty-four hours, and settlement is possible in as little as a few days. Now, home buyers have a new option to consider when looking to secure a land lease home with Bridgit’s bridging loan.

How it works

Bridgit will offer a single security bridging loan, where the loan is secured against the existing property that is being sold. The loan amount includes the funds required to purchase the property you’ve been eyeing. We will also refinance your existing mortgage, so you won’t have to worry about managing multiple mortgages or monthly repayments.

When you downsize, you usually won’t be left with a balance after the sale of your home, so we can immediately release security for all your properties.

Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational purposes only and should not be taken as financial advice or recommendations. Any views are subject to change without notice at any time.
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
Frequently Asked Questions (FAQ)What is a land lease home loan?

What is a land lease home loan?

With a land lease, you own the house but lease the land from the owner, which could be an individual, company, or homeowners association. Land lease home loans would give you the initial funds you need to purchase the dwelling and pay the landowner an agreed-upon rent. An alternate solution to consider is a single security bridging loan, which allows you to buy before you sell and use your existing property equity.

What are the advantages of getting a land lease home loan?

Bridgit’s bridging loans could help you purchase your land lease home. Due to the typically lower purchase price, land lease contracts can be an attractive option for home buyers. Additionally, land lease homes could help individuals save on property taxes, as they only own the home and not the land. In some cases, land lease communities may offer amenities such as clubhouses and tennis courts.

Are land lease home loans different from traditional mortgages?

Typically, you own both the land and the building on a traditional mortgage. A land lease arrangement, on the other hand, entails only owning the building and leasing the land. Traditional mortgages may have longer terms. In some cases, traditional banks may have strict housing loan eligibility requirements or have slow, manual processes that prevent them from providing real-time decisions.

Bridgit offers bridging loan options for homeowners who want to secure their dream home before they have sold their existing home, including land lease homes. With a simple application process and fast decisions, we provide a straightforward alternative to financing your land lease home.

Bridgit: Empowering Australian homeowners

At Bridgit, we want to help you buy your next dream home. By specialising in bridging loans, we offer a solution tailored to the needs of Australian homeowners. Allowing you to buy before you sell, eliminating some of the traditional obstacles in your way to buying the perfect property.

Our state-of-the-art technology accelerates the approval process, reflecting our dedication to helping homeowners advance to their next life stage without unnecessary delays.

We are dedicated to offering a lending experience that genuinely helps our customers as they progress through life. By eliminating the need to sell before buying, we provide Australians with the flexibility and freedom to buy on their own terms.

Our mission is to help Aussie homeowners make progress, whether they need short-term property loans in Canberra, short-term property loans in Sydney, or bridging loans across the country. We want to ensure that every Australian homeowner can confidently take their next step, knowing Bridgit is here to support their journey. Submit an application today!

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?
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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.