Specialist lender TechLend is now offering home buyers pre-approved bridging loans within one hour.

The non-bank lender uses its proprietary technology, which leverages property data and values to offer bridging loans quickly, to offer conditional approvals in 'record time'. 

This move is 'certain' to reduce much of the stress of buying a property. 

TechLend chief executive Aaron Bassin said borrowers fill out the five-minute online application, and the lender's technology runs an eligibility calculation for 'instant' conditional approval.

"You could literally apply for pre-approval on bridging finance on your way to a house inspection or auction and be able to bid with certainty once you get the green light from us," Mr Bassin said.

"Buying a house is stressful enough. Getting certainty around financing a bridging loan is now one part of the process that consumers don’t have to worry about."

Mr Bassin said TechLend's products cater to a wide range of customers, from self-employed people to retirees looking to downsize. 

"Our technology is constantly evolving and growing and utilising this, we are committed to providing homeowners with innovative solutions to what is an outdated system," he said.

According to TechLend, its product takes the pressure off downsizers and people that struggle to release liquidity due to the 'archaic' and 'largely manual' systems used by major banks.

The specialist lender recently announced it hit $100 million in bridging loans after only launching a few months ago, demonstrating an 'unprecedented demand' for its products.

TechLend offers its customers interest-free, paperless bridging loans with pre-approval within the hour, allowing homebuyers to buy a new home before selling their existing one.

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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

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