A word from Bridgit
Bridgit, founded in 2021, is a non-bank lender revolutionising property lending and how Australians access their equity and wealth. With a technology-first approach, the lender designs products that meet the needs of their broker partners and Australian home owners.
Bridgit aims to empower Australian home owners to access their hard-earned property equity to make progress. In doing so, home owners can enjoy the benefits, skip temporary living, never miss an opportunity, and buy their next dream home on their terms.
The company sets out to improve the traditionally complex processes within the category, with a tech suite that includes a custom-built partner portal, where brokers can submit applications, manage deals in real time, and access tools and resources in one place.
Few moments in life evoke the stress of a property transaction.
Part of this comes down to the sheer sums involved – the mean house price recently passed $1 million for the first time ever, according to recent data from the Australian Bureau of Statistics (ABS) for the March 2025 quarter.
But what also adds to the tension is time pressure, Australia’s competitive market, and the prospect of transitioning life to a new home.
Buyers walk into open homes knowing that if they don’t act fast, a house that ticks all (or at least enough) of the boxes may well be off the market tomorrow.
The majority of the Australian population seems to be asset rich and cash poor. Everything is tied up in property. Something we’ve really looked at is how to unlock [that] wealth and give [borrowers] an opportunity and a solution for what’s next
– Stephen Doyle, chief commercial officer, Bridgit
Against this backdrop, buying before selling is one way to wedge the window of opportunity open, giving home owners access to their equity and removing the need for borrowers to wait for the sale of one property to come through before they acquire another.
For Stephen Doyle, chief commercial officer at Bridgit, these short-term solutions are also a way for mortgage brokers to support a wider range of clients.
“The majority of the Australian population seems to be asset rich and cash poor. Everything is tied up in property and this is how Australians build their wealth” Doyle says.
“Something we’ve really looked at is how to unlock [that] wealth and give [borrowers] an opportunity and a solution to use it for what’s next.”
How are bridging loans being used?
Bridging loans can be used to support a number of key borrower profiles through major transactions or life transitions.
Investors, for example, can seize new opportunities quickly by having greater access to equity in their existing property portfolio.
Downsizers are another cohort that can benefit. Doyle notes around 29 per cent of over-55s are looking to downsize in the next few years, but many face financial barriers.
“A solution is to bridge. It allows them to unlock their wealth and move to the next stage. We’re seeing a lot of demand coming through,” he says.
Doyle talks to their solutions for retirees, allowing borrowers to secure finance against their existing property without needing a source of income. Downsizers can purchase their next home and repay the loan once their current property is sold – avoiding the pressure of juggling two mortgages or having to make repayments on a loan during this transaction.
The solution can also support moves into retirement villages.
“We assist with the transition into a retirement village by utilising the existing home to fund the sum of money for the individual to move across, with ease, no stress,” Doyle says.
“They can move into the retirement village, and then utilise our solution to assist with doing up their home before selling, and getting the best price out of the sale, helping set up their retirement.”
Relationship breakdowns are another scenario where bridging finance can help, if a client is navigating hefty legal fees during asset division or looking to divide an asset.
Doyle explains: “You have a couple that own the property. They’re splitting up their one asset that they own jointly together, and then they can utilise the loan to purchase two assets so the transition is simpler before selling: one moving into one property, another moving into the other.”
“You can park the sale of the property, give it some cosmetic renovations to boost the value out of your main asset, where all your money actually is, to sell at a later date,” Doyle says.
Shaun Jones, broker and partner at Sunshine Coast-based brokerage Mason Finance Group, says having this extra time and flexibility can make a big difference to the final outcome.
“Instead of being forced into a stressful same-day settlement, clients can move into their new home at their own pace,” Jones says.
“Bridging finance offers a smoother, more manageable transition, whether you’re upsizing, downsizing, or simply taking advantage of the right opportunity when it appears.”
Easy does it
For some brokers, writing a bridging loan along with another loan type – such as a 30-year mortgage – may just seem like adding more complexity to the customer’s scenario. But Doyle encourages them to think about the bigger picture.
“There is a misconception that brokers will always refer to. They say: ‘Bridging is time consuming, complicated or stressful.’ That is incorrect,” he says.
“At Bridgit, we have an extremely fast turnaround time to pick up the application within minutes, approval within hours and settlement within a week if required.
“We have a huge focus on supporting the customer with the best outcome, and have flexibility to ensure we give the best solution to a variety of customer types.”
This speed-to-solution comes from continued investment in technology, as well as dedicated, specialist teams that understand nuances of bridging finance.
“Our teams are trained specifically for bridging,” Doyle adds.
“When you get experts in a field that are focused solely on bridging, know every scenario, every customer type, they know how it will work, how to make it work, how to get it done in a timely manner, and also make sure we’re giving the best possible information to the broker to relay to their end client.”
Meanwhile, Jones says mortgage brokers who can look beyond these common misconceptions have a serious opportunity to help their clients.
“With strong demand and limited supply, we’re firmly in a seller’s market – which means buyers need to present the most compelling offers possible,” Jones says .
“Bridging finance can give you a significant edge by allowing you to remove the ‘subject to sale’ condition from your contract.
“This makes your offer far more attractive to sellers and increases your chances of securing the property.”
New opportunities
So, is now the time for mortgage brokers to add bridging finance to their toolkit?
Doyle encourages mortgage brokers to view bridging in a different mindset and as a tool to support more clients – and unlock new opportunities – without straying too far away from their core business.
“Everyone in the industry talks about diversification – moving into commercial, leasing, and so on. But bridging isn’t a leap into a new space. It’s a small step away from the 30-year home loans that make up most brokers’ bread and butter,” he says.
“The structure is familiar. Their borrowers are the same and the journey is familiar. And once they dispel the myths about bridging being complicated or time-consuming – and actually offer this to their clients – they see how simple it can be.
“It gives brokers another valuable tool to support their clients and grow their business.”
