Transferring ownership of a property or registering a new or additional bond can take anywhere between 30 – 120 days. The owner often only obtains access to surplus funds from the sale or new bond at the end of this period. However, there are often instances when the owner may need to access funds before this takes place. During this period, our partner is able to provide the owner with bridging finance before registration of the sale or the new bond.
Bridging finance is available to residential and commercial property owners in the following cases:
Where there is equity in a property and the owner has concluded a valid sale agreement.
When the owner has obtained approval for a new or additional bond to be registered over the property.
There is no minimum loan size applicable, and our partner does not specify how the funds are to be used, but typically they are used for any of the following:
to pay transfer duty on a new property
to cover the cost of outstanding rates/taxes/levies on the property being sold
as a deposit on a new property
for repayment of personal debt
to provide working capital funding for business
to pay transfer duty on a new property
A referral commission will be paid to you on any leads that result in bridging finance and the commission is payable once the bridged amount has been settled.
