Non-bank lender TechLend has rolled out a new technology that can assess bridge loans applications and provide pre-approval within an hour.

TechLend's technology utilises property data and values to make a quick assessment of bridge loan applications and provide conditional approvals within an hour of submission.

TechLend co-founder and chief executive Aaron Bassin (pictured) said borrowers will only need to fill out a five-minute online application, which will go through an eligibility calculation for instant pre-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.

TechLend recently clocked $100m in bridge loan applications.

A bridge loan is a short-term loan option typically used by home sellers to "bridge" the gap between having to pay for a new deal and getting the proceeds from the sale of their existing property.

Mr Bassin said the pre-approval technology for bridge loans aims to reduce the stress of the mortgage application process, particularly for owners and investors who have limited time.

"Our product caters to a wide range of customers from business owners and those who are self-employed, to retirees looking to downsize," he said.

More to come...