Embracing flexible lending processes and decisioning in an unprecedented market

Homeowners in 2023 are navigating incredibly challenging market conditions. Between the rising cost of living (climbing by 9.6% in the 12 months to June 2023) and with 12 interest rate rises since May 2022, home loan serviceability requirements are at an all-time high for Australian borrowers.

But, many lenders are falling short of meeting the needs of today’s borrowers by not offering flexibility in their credit decisioning and lending policies.

Rather than focusing only on customers who tick all the boxes, forward-thinking lenders are finding strategic ways to help a broader pool of homeowners navigate today’s challenging market conditions.

How Bridgit is supporting modern brokers and their customers

As bridging loan specialists, Bridgit is committed to providing fast, simple bridging solutions that are built for today's brokers and borrowers.

A key pillar of their lending criteria is adaptability, meaning their team is able to flex to meet the evolving needs of homeowners in the current market conditions.

Being flexible and embracing the uniqueness of customer applications is what helps Bridgit deliver bridging solutions for all types of homeowners and scenarios.

In tangible terms, here’s how Bridgit is championing flexibility to support homeowners and borrowers with tailormade bridging solutions:

• Unique scenario workshopping: No two applications are the same and building tailored solutions is what Bridgit specialises in. This means taking the time to workshop a range of possible solutions to land on an arrangement that aligns with each homeowner’s unique financing needs and goals.
  
  
• Instant loan summary: Speed is key to succeeding in challenging market conditions for Australian mortgage brokers. After workshopping a scenario, accredited brokers will receive an instant loan summary that helps their clients move fast and support their customer..
  
  
• Flexible income verification for downsizers: When homeowners downsize to a smaller property, we assess the loan based on the existing property equity and asset position, rather than solely relying on income. We then secure the loan against the property, offering both single and multiple security bridging loan options.
  

Mortgage Brokers

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