Member Spotlight — Bridgit: Empowering Aussie homeowners to unlock their property wealth
Since launching in 2021, Bridgit has redefined the lending landscape by offering an entirely new way for homeowners to unlock their property wealth and buy their next home before selling their existing one.
From its earliest days, Bridgit’s founding journey has been fueled by a simple yet powerful vision: to revolutionise bridging finance and make it accessible for all Australian homeowners to unlock their property wealth.
CEO and Co-Founder, Aaron Bassin saw an opportunity to disrupt the traditional lending model and address a crucial gap in the market. While traditional lenders have made short-term finance slow and restrictive, Bridgit’s innovative solution allows homeowners to tap into their property equity and make progress without any of the traditional hold backs.
Revolutionising Bridging Finance
Bridgit’s advanced technology streamlines the entire loan application process. Homeowners can secure approval in minutes in an industry where traditional lenders can often take up to 21 days to pick up applications. This unique capability allows homeowners to act fast, leverage their home to make their next step before selling, a game-changer in competitive property markets where opportunity and timing is crucial.
“Our goal was to create a product that would not only make the process simpler and faster but would open doors for those who’d previously been shut out, not able to unlock their property equity” Aaron explains. “Homeownership transitions can be some of the most pivotal moments in life, and we wanted to support Australians in taking that next step.”
By designing a platform, Bridgit has become a first-choice specialist for retirees, downsizers, growing families and other underserved segments of the population looking to make their next property move, providing a more inclusive and accessible approach to property finance.
Key Features that set Bridgit apart
Approval in minutes: Digital-first solutions and an automated decision engine make for a streamlined approval process.
Specialised and experts: A team of specialists, enabled by tech built specifically for bridging, is what helps Australians use their property equity for their next step.
Creating access: Full service lender for residential property needs - downsizers, upsizers, retirees and investors.
Flexibility for the consumer: No monthly repayments required provide financial flexibility, plus homeowners can repay at any time with no exit costs.
No income verification: Loans are assessed based on property equity and asset position for downsizers and retirees, no income verification is required in most cases.
Tech-Driven
At Bridgit’s core is a robust digital platform designed to streamline the lending process, purpose built for Bridgit. By leveraging thousands of property data points, Bridgit can make automated,and accurate lending decisions. This approach has allowed Bridgit to maintain an unmatched approval speed, which can make the difference in fast-moving property transactions for the consumer.
“There are countless data points that we look at. Just on any house these days, there are thousands of historical transactions and metrics that we analyse, all of which feed into our models to enable better decision-making."
“While some lenders can take 21 days to pick up an application, we are offering approvals in minutes” concludes Aaron Bassin.
Milestones and Growth
Since its founding, Bridgit has seen exponential growth and established itself as a leader in bridging finance. Recently, Bridgit secured an additional $250 million in funding, enhancing its capacity to support over $1 billion in annual property transactions. This milestone isn’t just about increased capital; it reflects Bridgit’s commitment to continuous improvement and providing a key solution for homeowners. The additional funding will enable Bridgit to invest in advanced technologies, including AI-driven credit decisioning, which will further speed up the approval process and streamline the user experience. This expansion positions Bridgit to serve an even broader range of Australians, helping them unlock their equity, and transition between homes seamlessly and confidently.
Learn more about Bridgit: https://www.bridgit.com.au/
