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The bridging loan specialist’s products are now available to Mortgage Choice brokers looking to support borrowers who are buying their next property.
Aggregator and major brokerage Mortgage Choice has announced that the non-bank bridging finance lender Bridgit has joined its lending panel, effective immediately.
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Bridgit provides short-term financial solutions to borrowers hoping to purchase their next property before selling their existing home by offering 24-hour approvals and no monthly repayments, avoiding the need for a double mortgage.
Mortgage Choice chief executive Anthony Waldron said: “We’re excited to welcome Bridgit to our lending panel. When you find your dream home, you often don’t have time to sell your existing home first.
“Bridging loans give buyers the freedom to secure their next home, which is particularly important in a competitive housing market where supply remains constrained.”
A survey of more than 1,000 Australian home owners in July of 2022 (commissioned by Bridgit) found that more than 50 per cent of owners who sold before buying their next property would have preferred to buy ahead of the sale.
According to Mortgage Choice, Bridgit can help clients avoid issues such as lining up settlement dates.
The co-founder and CEO of Bridgit, Aaron Bassin, commented: “Bridgit is proud to partner with Mortgage Choice, an iconic brand with a proven track record of helping Australians realise their property dreams, through its extremely impressive team of more than 1,000 brokers.
“We are looking forward to working with the Mortgage Choice broker network to help more people make progress through property.
“We recognise the significant role that brokers play in supporting borrowers through the lending process and are excited to build on our partnership with REA Group and as we continue making bridging finance more accessible for home owners.”
The Adviser delved further into the purpose of bridging loans and how they can support borrowers selling their home to purchase another.
[Related: Bridging dreams]
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