Australian Finance Group has added a bridging finance option to its white-label lending suite, launching AFG Home Loans Bridge in partnership with fintech lender Bridgit.
The product is designed to help customers buy their next property before their current home has sold, giving brokers a dedicated solution for a scenario that often causes timing headaches for clients.
The offering will roll out nationally through AFG's broker network and is aimed at a range of borrower types, including upsizers, downsizers, retirees, and customers looking to access equity or wanting more flexibility as they move between properties.
AFG pointed to its own lodgement data to underline the timing behind the launch, noting upgraders made up a record 44% of lodgements over the June quarter. The launch comes amid continued growth for the aggregator, which earlier this year reported $29.5 billion in broker-lodged home loans in the March quarter — its strongest March quarter on record.
Hayden Cush (pictured left), AFG general manager of white label, said the product responds to a common pain point for customers whose property transactions don't align neatly.
"Buying and selling property does not always happen in a neat sequence. Many customers find the right next home before their existing property has sold, and they need a finance solution that gives them speed, confidence and flexibility," Cush said.
Cush said the new product gives brokers more scope to discuss clients' wider property goals, rather than just the immediate transaction.
"AFG Home Loans Bridge gives brokers another practical option to help customers navigate that transition. It expands the support available under the AFG Home Loans brand and gives brokers a clearer pathway to have broader conversations with customers about their property goals," he said.
For Bridgit, the tie-up marks an opportunity to extend its digital-first lending model into one of the country's largest aggregator networks.
Aaron Bassin (pictured right), Bridgit founder and chief executive, said the partnership reflects the fintech's focus on fast, tech-enabled processing.
"We're incredibly excited about partnering with AFG, one of Australia's largest and longest-running aggregators. For Bridgit, AFG marks a significant step forward, giving us deeper reach into one of the country's most established broker networks," Bassin said.
He added that Bridgit's approach centres on giving brokers a reliable "buy now, sell later" option for clients, backed by faster assessment, approval, and settlement processes, as the fintech looks to extend its reach across AFG's broker base of more than 4,000 members.
Get the hottest and freshest property and mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
