Contact a Bridging Loan Broker

 

Tell us the property, what is owed against it, what you are trying to do and by when. That is enough for us to say whether a bridging facility is workable and roughly what it would cost, usually the same business day.

• Phone: 02 8919 3639

• Email: loans@bridgingloansaustralia.com.au

• Office: 706/35 Spring Street, Bondi Junction NSW 2022

• Enquiries answered: Monday to Friday 8:00am to 8:00pm, Saturday 9:00am to 7:00pm, Sunday 9:00am to 9:00pm

We are based in Bondi Junction in Sydney's eastern suburbs and arrange finance across Australia. Most of the process is handled remotely, so where you are does not change how quickly we can move. Office meetings are by appointment.

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What to include in your enquiry

Six things. With all six we can usually give you an initial view the same day. Without them the first reply is just a list of questions.

• The property, or the suburb if you would rather not give the address yet

• What it is worth, to the nearest reasonable estimate

• What is owing against it, including any second mortgage or caveat

• How much you need

• When you need it, and whether that date is contractual or preferred

• What repays it, and roughly when

The last one is the one people leave out and the one that decides everything. A lender is being asked to agree to a repayment date, so "we will sell it" is a different answer to "it is listed with an agent and we expect to settle in October".

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Who actually lends on bridging finance

We are a brokerage, not a lender. We do not fund loans ourselves and we do not hold the money. What we do is take a scenario to the lenders most likely to write it, which for bridging finance is a different set of institutions to the ones that write home loans.

Bridging facilities in Australia are mostly funded by non-bank lenders, specialist short-term funders and private credit, rather than by the major banks. The majors do offer bridging products, but they are typically assessed on servicing in the same way a home loan is, which is why a borrower with substantial equity and an awkward income position often cannot use them. Specialist funders assess on the security and the exit instead.

Practically, that means three things for you. Approval can be considerably faster. Pricing is higher, because the risk sits differently. And the loan is arranged rather than applied for, since most of these lenders do not take applications directly from the public.

We are paid a commission by the lender on settlement, disclosed to you in writing before you commit. More on how we work is on about us.

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What happens after you get in touch

1. Initial assessment. We look at the property, the loan to value ratio, the timeframe and the exit. Usually the same business day. This costs you nothing and does not touch your credit file.

2. Indicative structure. If it is workable, we set out the likely structure, what documentation is needed and an indicative cost. If it is not workable, we tell you that instead, and why.

3. Valuation and documentation. We coordinate the valuation and collect what the lender needs. This is the step that sets the timetable.

4. Approval and settlement. Commonly 3 to 7 business days from a complete file, subject to valuation and documentation.

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Before you call, if you would rather work it out first

• The bridging loan calculator will model your position in about two minutes

• Costs and fees sets out everything that goes into the total, not just the rate

• The questions page covers deposits, timing, risks and what happens if a property does not sell

• Who we help sets out eligibility, including the situations that do not qualify

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Questions about getting in touch

How quickly will you respond?

Most enquiries get a reply the same business day. If your matter is time-critical, say so in the first line and give us the date, because that changes how we handle it.

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Do I need to come to your office?

No. We are in Bondi Junction and arrange finance across Australia, with the process conducted remotely. If you would prefer to meet in person and you are in Sydney, that can be arranged by appointment.

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Does enquiring affect my credit file?

No. An initial assessment is a conversation about the property, the numbers and the exit. Nothing is submitted to a lender and no credit enquiry is recorded until you have seen an indicative structure and asked us to proceed.

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Send us the scenario

Use the form on this page, call 02 8919 3639, or email loans@bridgingloansaustralia.com.au. If it is not workable we will tell you early, which is worth more than a slow maybe.