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Why non-bank lenders are filling a gap in the market for bridging loans

Promoted by Bridgit2 minute read
Bridgit Bridging Home Loans

Brokers have traditionally been underserviced with bridging home loan options. But now, non-bank lender Bridgit, is leading the bridging finance revolution.

While the banks might not see bridging finance as a priority, specialist non-bank lenders are stepping in to fill this gap in the market. Aaron Bassin, co-founder and CEO at Bridgit said “we’re passionate about providing our partners with a dependable bridging solution that delivers mutually beneficial outcomes for all involved.”

Over 1.3 million Australians are self-employed and a further 3.9 million are retirees. These are big segments of the market that aren’t being served by traditional lenders and big banks. Instead, non-bank lenders like Bridgit are seizing the opportunity to deliver inclusive, flexible loan products tailored to the needs of all Australians.

Why bridging loans have historically been underserviced 

Traditionally, bridging loan products haven’t been a focus for banks. 

The complexity of these short-term loans meant traditional lenders found it difficult to make a profit from bridging home loans. Plus, banks typically find themselves bogged down in slow, manual processes, leading to a drain on internal resources and extended wait times for customers. 

As a result, brokers have faced limited options in the bridging loan space. However, the need for bridging finance has never been greater. 

The bridging home loan revolution 

Today’s homeowners want fast, flexible solutions that allow them to capitalise on the best opportunities. Filling out manual paperwork, visiting bank branches and waiting weeks to receive approval isn’t cut for modern borrowers. 

Instead, homeowners need the assurance that they can jump on their dream property, even before selling their current home.

Bridgit has changed the bridging game with the establishment of their product, offering same day approvals, a 3 month interest free period and a completely digital and convenient experience for the customer. Not only does Bridgit have the tech, but they take a common sense approach to how they work, giving customers and brokers direct access to the credit decision makers.

Bridgit gives the assurance of a singular focus and in-depth expertise in bridging finance products utilising state-of-the-art technology to streamline the application process, remove assessment wait times and offer swift approval.

How Bridgit is meeting the needs of brokers 

Bridgit, works directly with the industry to design a tech-driven bridging product that meets the needs of their partners and Australian homeowners. 

Having in their tech suite a custom-built partner portal to help brokers manage their client’s Bridgit loans in one place. This portal allows brokers to submit applications, manage deals, and access broker tools and resources. 

Aaron Bassin, Bridgit CEO said “Our goal as a non-banker lender is simple, to improve the process of bridging finance lending and take the stress out of the journey for brokers and customers.”

View the story of Bridgit customers Chris and Sharanne and their experience with Bridgit.

Customers Chris and Sharanne

 

Don’t let your clients miss out on buying their dream home.

Get accredited online as a Bridgit partner today.

 

Why non-bank lenders are filling a gap in the market for bridging loans
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