Downsizer bridging loans with Bridgit

1 month interest free

From 8.69% p.a thereafter, 8.81% p.a comparison rate^

Set up fee from 0.99%

Loans up to 6 months

Funding up to $3M

LVR up to 75%

Best Lending Innovation

Winner, Finder Innovation Awards 2023

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 with 1 month interest free.
No double mortgages
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.
Downsizers
bridging loans
Thinking of downsizing? Bridging loans are a great option for you to take control of your next purchase, hassle free and without having to sell first.

The most common approach when downsizing is to sell your existing property first. But this comes with unknown hassles and costs, you might require a temporary living situation before buying again, you might feel the pressure to get back into the market purchasing a property that you don’t love, or you might miss out on an opportunity while waiting to sell. 

A bridging loan helps you avoid these problems.

Downsizing bridging loans

Thinking of downsizing? Bridging loans are a great option for you to take control of your next purchase, without having to sell first.

Finding the right home to downsize into is hard, with the most common approach being to sell your existing property first to access to the funds and then find the next home. You can do your best to align settlements on the purchases, but you might require a temporary living situation between the sale, which comes with added hassle and cost. More importantly, you might feel the pressure to get back into the market and purchase a new property that you don’t love. This is where a downsizing bridging loan can be handy.

Timing is key

With a downsizing bridging loan, you can spend the time to find the perfect property and purchase using a bridging loan which gives you access to the equity in your existing home, without having to sell it. You can then go about organising the sale of your new home, selling in the same market you bought in. When downsizing, bridging loans are a compelling option.

Downsizing with the big banks is slow and difficult

For downsizing bridging loans, it can be difficult and time consuming to get approval from traditional banks as they have a one size fits all approach to lending, and downsizers without an income are unlikely to be approved. Plus, due to the shorter loan period, they are not interested in servicing such a product and instead, deter homeowners towards their 30 year mortgages options. Unfortunately, by the time you are approved, your dream home is often no longer up for sale.

Downsizing is much easier at Bridgit

At Bridgit, a downsizing bridging loan does not require you to have an income , we simply take into account the value your existing home to approve you for the bridging loan. You won’t always need to provide income verification, although in some cases we may need confirmation of super and pension income. Downsizing with a bridging loan, has the added benefit of not requiring a mortgage at the end of the bridging period.

Find out more about our downsizing bridging loans

A bridging loan allows you to downsize before or during the selling process of your current home. The loan will be secured against your property equity, not your income, making it perfect if you are retired or semi retired. And at Bridgit we offer, 24 hour approvals and a customer service team here to help you.

You can use a bridging loan to secure your next perfect home, including:

Apply now

Schedule a call

1 month interest free

From 8.69% p.a. thereafter, 8.81% p.a. comparison rate^

Set up fee from 0.99%

Loans up to 6 months

Funding up to $3M^

LVR up to 75%

No repayments until maturity

Apply now

Why Bridgit?

Simple process,
faster approval

Apply online in under 5 minutes and get 24 hour approval. Don’t miss the opportunity to buy your dream home today.

Headache free,
stress free

1 month interest free with no monthly repayments, giving you plenty of time to sell your existing property.

Local support,
Aussie based

Our Aussie team is here to support you every step of the way.

Want to know more?
Bridgit FAQs

Hear from customers who
bridged it

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

Once we’ve valued the property and completed final verifications, sign the documents and you are on your way to settlement in as little as 48hrs*.

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

04

Sell

Sell your existing property and pay down your Bridgit loan. No rush, you have up to 6 months.

Apply now

Schedule a call

Get same day approval with Bridgit

01

Submit application

Apply online and receive same day 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

Once we’ve valued the property and completed final verifications, sign the documents and you are on your way to settlement in as little as 48hrs*.

*Subject to the loan scenario and outgoing lenders processes on refinance (if applicable.)

04

Sell

Sell your existing property and pay down your Bridgit loan. No rush, you have up to 6 months.

Apply now

We are here to improve the process of lending, to take the stress out of it. We are made for today.

Trusted by customers who Bridgit

No items found.

21 Feb 2022

I had a great experience

Bridgit provided superb customer service with regular communication throughout the process. A much more personable and flexible experience.

- Giles

14 Feb 2022

We settled on time!

The team were exceptional in getting valuation, documentation etc completed and we settled for property on time!

- Neil

20 Jan 2021

Fast & Efficient

Bridgit were fast and efficient we would never of been able to buy our dream property without them. Would highly recommend them and the team.

- Kristen

22 Dec 2021

Great to deal with

They came back to us quickly with a decision, and we were able to move forward with confidence. I would use them again and will recommend them.

- Anthony

20 Dec 2021

Thank you Bridgit

Thank you all at Bridgit. The whole process was quick and efficient, completely the opposite from dealing with the bank.

- Frances

13 Dec 2021

Fast and efficient

Bridgit were fast and efficient we would never of been able to buy our dream property without them. Would highly recommend them and the team.

- Sharrane

02 Feb 2023

Definitely worth a try

If you're thinking about getting a bridging loan I'd recommend giving Bridgit a try. In my experience I found Bridgit to be way more efficient than the big banks. I received conditional approval within an hour of my application and unconditional approval within a week.

- Michael

23 Nov 2023

Definitely will be recommending team Bridgit again

Bridgit came to the rescue providing an approval less than 24hrs of submission and settlement booked within 24hrs of returned signed loan docs. With Bridgit's assistance and fast processing we were able to leave a positive experience with our high valued client.

- Irene

11 Nov 2023

Highly recommend

The team at Bridgit was so helpful in ensuring my clients could settle on their dream homes. Our situation was slightly complicated, but this never phased Bridgit, who offered us a solution no bank could.

- Oliver

20 Oct 2022

Worth a look before the banks

Bridgit absolutely came through for us - customer service was great. The whole team was up-to-date with our application making it easy to progress. I highly recommend Bridgit. Very reasonable fees and rates make them an option to be seriously considered over the big banks.

- Dana

24 Jun 2022

Professional, knowledgeable, unbelievably impeccable

I have never dealt with such a professional financial institution such as Bridgit in my years of buying houses. I encourage anyone looking for a bridging loan to utilise this unbelievable institution.

- Vikki

08 Apr 2022

A bridging loan that is easy!

A great new bridging loan facility that is market-leading and easy to set up, quick to provide approval and follow up customer service. If you are downsizing or moving, and need finance to make it happen efficiently and without the usual red take, then this is the lender for you.

- Paul

20 Dec 2021

Mortgage broker experience

I referred a client to Bridgit and was very happy with their service. They approved the application in 5hrs, which allowed them to bid with confidence at auction the following day.

- George

21 Feb 2022

I had a great experience

Very easy to apply - I had my conditional approval within hours of submitting my request. It was very clear what needed to be provided to get unconditional approval, and I knew when I inspected the property that if I needed to make an offer, I was well-placed to do so.

- Annette

23 Nov 2022

Highly recommend working with Bridgit

Working with Bridgit to obtain financing for a bridging loan was straightforward. The online interface guides you through the requirements, and their customer service team is very helpful. Any questions we had were answered promptly. They have found a niche in the bridging loan market.

- Marcus

Get 24 hour approval

Downsize with Bridgit
Downsizing is much easier at Bridgit
At Bridgit, a downsizing bridging loan does not require you to have an income , we simply take into account the value your existing home to approve you for the bridging loan. You won’t always need to provide income verification, although in some cases we may need confirmation of super and pension income. Downsizing with a bridging loan, has the added benefit of not requiring a mortgage at the end of the bridging period.
Timing is key
With a downsizing bridging loan, you can spend the time to find the perfect property and purchase using a bridging loan which gives you access to the equity in your existing home, without having to sell it. You can then go about organising the sale of your new home, selling in the same market you bought in. When downsizing, bridging loans are a compelling option.
Downsizing with the big banks is slow and difficult
For downsizing bridging loans, it can be difficult and time consuming to get approval from traditional banks as they have a one size fits all approach to lending, and downsizers without an income are unlikely to be approved. Plus, due to the shorter loan period, they are not interested in servicing such a product and instead, deter homeowners towards their 30 year mortgages options. Unfortunately, by the time you are approved, your dream home is often no longer up for sale.

Disclaimer

^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for interest only loans will not reduce your loan balance. This may mean you pay more interest over the life of the loan. Bridging Loan set up fee is from 0.99% and government charges apply.

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.