Frequently Asked Questions (FAQ)

What is a short-term private lender?

Short term private lenders are entities that provide short term finance and are primarily characterised by their flexibility and less stringent regulations compared to traditional banks. These direct private lenders can be individual investors or specialised firms. The loans they offer are typically for a duration of twelve months or less, designed to bridge funding gaps or address immediate cash flow issues.

Bridgit, as a leader in this sector, demonstrates this with its unique offerings for Australian homeowners. We provide the advantage of moving into a new home sooner, saving on temporary living and storage costs. Our service includes covering existing mortgages, thereby relieving customers of the burden of managing double mortgages.

Additionally, we provide homeowners with the option to convert existing equity into funds before selling, tailoring our services to improve the lending process and empower our customers to progress in life.
What types of loans do short-term private lenders typically offer?

Short term private lenders offer a variety of loans, mainly categorised into short term property finance, quick personal loans, and business loans. Bridgit specialises in providing real estate loans for property purchases, renovations, and construction, and we’re well-known for our adaptable solutions.

We uniquely focus on alternative home loans and provide flexible short term home loan rates, ensuring each loan aids in achieving property goals and setting a high standard in short term private lending.

Our bridging loan product stands out with features like buying now and selling later, equity release before selling, and covering existing mortgages to prevent double mortgages.

How quickly can one get funded through a short-term private lender?

Short term private lenders are known for their quick funding times, significantly outpacing traditional banks with their online loans. Their streamlined and less formal application processes enable rapid approvals, often allowing borrowers to receive funds in as little as twenty-four hours.

This efficiency for potential same day loans is particularly beneficial for those needing urgent financial support, showcasing the private money lenders’ commitment to prompt and effective service.

Bridgit enhances this efficiency by leveraging technology to streamline the bridge financing process. Our application takes just five to ten minutes, and we offer a twenty-four-hour approval process with the potential for settlement in just a few days for expedited funding.

Moreover, we uniquely offer an initial interest-free period, demonstrating our commitment to a customer-centric borrowing experience. While we do have a set-up fee, it is structured transparently to avoid any surprises, ensuring you understand the full terms of your loan from the outset.

Our dedicated partnerships team is always at hand, guiding borrowers and their clients at every step, solidifying Bridgit’s status as not just one of Australia’s short term private lenders but a trusted ally in the property journey. This comprehensive approach showcases how Bridgit is transforming the landscape of property dreams into tangible realities.

Bridgit: Pioneering the Future of Home Financing

At Bridgit, we’re redefining the landscape of short term financing in Australia. Established in 2018, our aim was simple yet profound: to empower Aussies with innovative finance options, enabling them to secure their dream homes without the need to sell their current properties first. As specialists in bridging loans and alternative home loan options, we’ve identified and filled a crucial gap in the market.

Our tech-first approach not only speeds up the approval process but also ensures a seamless, hassle-free experience for our clients. Bridgit stands as a symbol of progress, providing short term home loan options that are both efficient and beneficial.

Whether it’s a loan for a short term rental property or a short term home equity loan, our solutions are tailored to meet the evolving needs of Australian homeowners. Our commitment goes beyond mere transactions; we’re here to guide you towards making informed decisions and taking confident steps in your property journey.

With Bridgit, your next perfect property is just a loan away.