Downsizing Bridging Loans

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.

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

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Trusted by customers who Bridgit

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

Downsize with Bridgit

Downsizing is much easier at Bridgit

Timing is key

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.

Downsizer bridging loans with Bridgit

1 month interest free

Downsizing bridging loans

Timing is key

Downsizing with the big banks is slow and difficult

Downsizing is much easier at Bridgit

Find out more about our downsizing bridging loans

1 month interest free

Why Bridgit?

Simple process, faster approval

Headache free,stress free

Local support,Aussie based

Hear from customers who bridged it

Chris & Sharanne relocated to their ultimate dream acreage with Bridgit!

From city to coastal, Giles and his family secured their dream lifestyle change

Mark and Kay rightsized into their next perfect home with Bridgit!

Get 24 hour approvalwith Bridgit

01

Submit application

02

Accept the offer

03

Purchase your property

04

Sell

Get same day approval with Bridgit

01

Submit application

02

Accept the offer

03

Purchase your property

04

Sell

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

I had a great experience

We settled on time!

Fast & Efficient

Great to deal with

Thank you Bridgit

Fast and efficient

Definitely worth a try

Definitely will be recommending team Bridgit again

Highly recommend

Worth a look before the banks

Professional, knowledgeable, unbelievably impeccable

A bridging loan that is easy!

Mortgage broker experience

I had a great experience

Highly recommend working with Bridgit

Get 24 hour approval

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Simple process,
faster approval

Headache free,
stress free

Local support,
Aussie based

Hear from customers who
bridged it

Get 24 hour approval
with Bridgit