Trusted Bridging Loan Brokers
Get the best bridging home loan for you with your very own mortgage broker
Compare rates from 10+ lenders
Apply online
Fast bridging loan approval
No service fee
We’ll find the right bridging loan for you
Our qualified brokers work with 10+ top lending partners and get access to multiple bridging home loan options across Australia to customise solutions that’ll assist your unique finances and goals. We also stick with you from start to finish to simplify the complex bridging loan process, without charging you any broker fees!
How it works
Loan Duration
A bridging loan in Australia typically lasts 6–12 months (12 months if the property is under construction).
Dual Funding
Your lender takes over your existing mortgage while also funding the purchase of your new property. The total money you now owe your bridging loan lender is called the Peak Debt.
Cash Flow Friendly
Repayments are typically interest-only, with many lenders in our network also offering the option to capitalise interest.
The Sale
Once your current property is sold, the net proceeds (sale price minus any selling costs like agent fees) are used to reduce your Peak Debt, the total outstanding balance on your bridging loan.
Our easy 4-step process
Share your basic details
Tell us about your current finances and needs. It takes less than 2 minutes.
We do the search for you
Our team will browse through a network of 10+ top lenders and multiple bridging loan options to curate the best ones for you.
Unbiased guidance
We’ll provide unbiased guidance to help you select the bridging loan that best suits your finances and goals.
End-to-end support
Your dedicated mortgage advisor will stick with you from start to finish, simplifying the entire bridging loan process, at zero cost to you.
The pros & cons of getting a bridging loan
Pros
Cons
Get fast access to funds, which is crucial in Australia’s time-sensitive property market.
Usually includes higher interest rates and additional fees.
Purchase a new property before selling your current one.
Potential mortgage stress if you fail to manage debt wisely.
Avoid the need for temporary accommodation, eliminating the hassle and expense of renting and moving.
High financial risk if the sale of your property is delayed.
Potential offset account feature, which helps to lower the overall interest.
The short-term nature limits flexibility.
What is a bridging loan?
Think of a bridging home loan as your financial safety net when you’re in the progress of selling your property and buying a new one simultaneously. It’s a short-term home loan that funds the purchase of your new home before your current property sells.
Accurately calculate your bridging loan interest cost and repayment with our easy-to-use bridging loan calculator.
Why use Koalify?
Our team of mortgage brokers help you access multiple bridging loan options from multiple lenders across Australia, allowing you to secure the perfect option that best fits your finances and needs.
Your dedicated mortgage advisor will stay with you from start to finish to simplify the complex bridging loan process, and offer unbiased guidance to help you make the ideal decision every step of the way.
The best part is we’re completely free of cost to you. Zero broker fees charged!
What is a bridging loan?
A bridging loan is a short-term home loan that helps to fund the purchase of a new property while you’re in the process of selling your current home that is already tied to a mortgage.
It basically bridges the gap between selling your home and buying a new one, so you don’t have to wait to sell before you can move into a new one.
How long can I have a bridging loan?
The typical tenure of a bridging loan is 6–12 months. For a property that’s under construction, the tenure is 12 months.
What does a mortgage broker do?
A bridging loan is ideal for homeowners in transition or anyone needing quick access to funds to secure a new property before selling their current one.
This flexible solution benefits you by eliminating temporary accommodation and capitalising on time-sensitive opportunities.
How do bridging loans differ from traditional home loans?
Traditional home loans are structured for long-term financing, with fixed or variable rates and regular principal and interest repayments over many years.
Bridging home loans, on the other hand, are short-terms solutions designed specifically to cover the gap between purchasing a new property and selling your current one.
They’re typically offered on an interest-only basis for a period of 6–12 months, providing fast access to funds, but with higher interest rates and additional fees compared to traditional home loans.
What costs and fees are associated with a bridging loan?
Bridging home loans typically carry higher interest rates and additional fees compared to traditional home loans. It varies by your lender and credit profile.
You may use your own financial advisor to understand the accurate costs in your situation, or we will walk you through it during the process.
What documents and requirements are needed to apply?
Document and requirements to apply for a bridging loan are:
Minimum home equity: Varies by lender, but you’ll usually need to have at least 20% equity in your existing home.
Creditworthiness: A healthy credit score, income, and employment stability is required to get favourable loan terms.
Income Proof: You need documents proving your income, such as payslips, tax returns, or bank statements.
Contract of Sale: Some lenders may ask for evidence that your existing property is already on the market for sale, so a signed sale contract might be required.
Additional Documents: Identification and other financial documents (like asset statements) may also be required.
