How Bridgit is changing the game for retirees and downsizers

There are currently 4.1 million retirees in Australia, and this market segment is only growing.

The challenge? These homeowners have never been able to access the property finance they need to buy now and sell later—until now.

The current state of play for Australian retirees

Historically lenders have shown little interest in supporting retirees with bridging finance. In fact, short-term loans have proved tedious and time-consuming to secure for even the most suitable homeowners, let alone older Australians without a current source of income.

For retirees, purchasing a retirement home has always required them to sell their current home before making their next purchase. With no financial solutions to support them during this transition, retirees have been left in a precarious position.

If they’re unable to find a new property swiftly, they may end up needing to navigate the high costs and hassle of arranging short-term accommodation. Alternatively, retirees may be forced into rushing into their next property purchase, unable to take the time to secure their dream retirement home.

As a broker, you may find that you are unable to support your retirement-age clients with loan products that truly meet their needs. But there is a better way to help retirees secure their next home—and it doesn’t involve your clients selling first or waiting weeks (if not months).

Meet Bridgit’s single security bridging loan solution

Non-bank lender Bridgit is committed to helping Australian homeowners buy their next home on their own terms. Their single security bridging loan has been designed with retirees and downsizers in mind, offering a first-of-its-kind property financing solution.

Here’s how it works:

• No income verification: Bridgit assesses loans based on property equity and asset position. Their team might also review your client’s super and pension income.
• No double mortgages or monthly repayments: Bridgit pays your client’s existing mortgage with no repayments or fees (plus one month interest-free, too).
• Save on temporary living costs: Bridgit helps your client avoid the expenses of short-term rentals, storage and moving costs so they can move on their terms.
• No missed opportunities: With conditional approval available in just 24 hours, your clients will be able to capitalise on the best opportunities.

Bridgit’s team of specialists know that retirees are particularly focused on securing the perfect property to suit their needs and lifestyle during retirement. With this innovative single security bridging loan, you’ll be able to help your clients secure their dream home without the stress, pressure, or hassle of having to sell first.

In fact, retirees are just one of the many use cases for this bridging loan solution. Any client that sits outside of the criteria of a typical borrower can benefit from this single security bridging loan product, such as homeowners looking to purchase a land lease or community home, as well as clients seeking finance consolidation.

Ready to stand out as a broker?

If you’re only able to offer 30-year mortgages, you’re missing out on a huge pool of potential clients.

To gain a competitive advantage, it’s time to offer loan options that suit the needs of a wide range of clients. Retirees are an underserviced market that you can tap into, backed by the support of a specialist lender like Bridgit.

Ready to boost the lifetime value of your book and support your clients to make their next property move? Bridgit’s industry-first single security bridging loan is a powerful solution to add to your toolkit.

For brokers interested in partnering with Bridgit, visit their dedicated partnerships page to explore the opportunities and benefits of a partnership or schedule a call with their team to learn more.

Prefer a chat? Contact your state Bridgit BDM:

Nik Thurgood

North NSW / QLD

0483 959 388

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Candice Bernadotte

South NSW / ACT

0483 903 088

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Michael Balshaw

VIC / SA / TAS / WA

0482 071 272

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