Bridgit launches 24-month loan term and raises loan limit to $10m, creating new opportunities for homeowners and brokers.
Leading fintech Bridgit today announced an evolution in its solution, increasing its maximum loan term from 12 months to 24 months and its loan limit from $8 million to $10 million.
These changes open bridging finance to significantly more property investors, renovators, house and land package buyers, and long-settlement purchasers such as luxury homeowners and regional property owners, providing them with greater flexibility to leverage equity in existing assets.
• Investors now have more time to sell an existing asset while utilising its equity for a purchase, providing more flexibility for tax purposes, or longer sale timelines if the property is tenanted.
• APRA’s latest Monthly Authorised Deposit-taking Institution Statistics (MADIS) revealed that growth in investor volumes has overtaken that of owner-occupiers for the first time since APRA began tracking the data back in 2019.
• Renovators gain the freedom to use equity to complete non-structural renovations, such as kitchens and bathrooms, to increase the value of their property before selling or moving in.
• House and land package buyers can now unlock equity in their existing home to secure a package without needing to sell first or arrange temporary accommodation.
• Regional and high-value property owners can now better accommodate the extended settlement timelines that they often have when selling.
Benefits for brokers
For brokers, the increased term limit and loan value means a wider pool of potential clients, capacity for greater deal flow, and fewer dead ends.
Also introducing trail commissions
In a further boost for brokers, Bridgit has also announced the introduction of trail commissions for the first time. Brokers will now receive trail for 24-month terms, in addition to the existing upfront commission.
The expanded product suite underscores Bridgit’s mission to transform the historically restrictive bridging loan solution, and enable more Australians to unlock equity, seize opportunities and move forward on their own terms.
Quotes attributable to Aaron Bassin, CEO & Co-Founder of Bridgit:
“Extending our maximum loan term to 24 months and increasing our loan limit to $10 million is another example of how Bridgit is creating more access to bridging finance and creating new ways homeowners can utilise their property equity.
These changes will allow more Australians to access the equity in their properties and give them more flexibility and freedom for their next move.”
“For brokers, longer terms, higher limits, and the introduction of trail commissions mean more opportunities to serve their clients, build stronger long-term relationships, and secure additional, ongoing sustainable revenue streams.”
About Bridgit
Bridgit is a tech-driven, non-bank lender revolutionising property lending via bridging loans, with its simple online loan application, 24-hour approval and no monthly repayments. It empowers Australian homeowners to access their hard-earned property equity and secure their next home before selling their existing property. In doing so, homeowners can act fast and not miss out on opportunities to purchase their next dream home.
Bridgit was co-founded in 2021 after capital markets specialist Aaron Bassin and mortgage broker Nick Jacobs saw the industry was lagging and customers were paying the price for traditional slow and manual finance processes for property loans. Bridgit was named as a winner of the 2024 & 2025 FinTech Best Growth Story.
For more information, visit Bridgit.com.au
