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Bridgit has entered a partnership with Loan Market, becoming the aggregator’s first tech-driven bridging loan solution on its lender panel.
This new partnership continues the non-bank lender’s expansion of its broker offering through providing resources, tools and tech to streamline the bridging process.
Loan Market’s panel has now hit a total of 65 lenders, filling the gap for brokers to provide clients with a simpler bridging loan solution through Bridgit’s straightforward online loan application, 24-hour approval and three-month interest-free period.
Co-founder and CEO of Bridgit Aaron Bassin said: “By partnering with one of the biggest aggregators in the space, who are aligned in our mission to use innovative technology to drive better solutions, we aim to help more Australians access better property finance.
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“Our focus is always on putting the customer first and Loan Market shares the same value. We look forward to not only working with Loan Market, but also their high-quality network of brokers.”
Stephen Doyle, head of distribution for Bridgit, stated that the non-bank lender was excited to grow its broker offering and network, while providing more home owners with faster solutions allowing them to secure their next home before selling their existing property.
“We recognise the significant role brokers play in guiding and supporting home owners through the lending process.
“Too often, Australians pay the price and miss out on their next property due to traditionally slow and manual finance processes,” Mr Doyle said.
Loan Market managing director Andrea McNaughton added: “Our brokers recognise the quality of our lender panel which delivers both more choice and targeted solutions for their customers’ individual needs.
“Bridgit adds to our extensive offering as demand for quick and convenient bridging finance solution grows in the marketplace”.
Less than a year after launch, the non-bank lender passed $1 billion in loan applications as demand for a “buy first, sell later” model continues to grow.
Bridgit has announced that it had surpassed $1 billion in loan applications, less than a year after being founded by mortgage broker Nick Jacobs and capital markets specialist Aaron Bassin.
The lender specialises in what it calls a “buy first, sell later” model; bridging loans that enable borrowers to secure their next home before selling their existing property.
According to the non-bank lender, many older Australians have decided to capitalise on the rising property prices over the last 12 months (particularly around the capital cities), which rose 11.2 per cent nationally.
[RELATED: Bridgit secures $1bn in loan applications]
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