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We provide bridging finance to the following parties involved in property
transactions
- Property sellers by unlocking the value in their property before the
transfer is registered,
- Property sellers by providing them with funds for payments of their
transfer duties,
- Property purchasers by funding transfer costs,
- Bond switchers by accessing the proceeds of the bond prior to the bond
being registered
- Estate agents by giving them access to their commissions upfront.
Property sellers
A seller of property is only paid the net proceeds from the sale on
registration of transfer. This lengthy process can take up to three months
or even longer. We offer sellers access to their funds within 24 hours. In
order to advance the money, we require that:
- Sales agreement with all suspensive conditions cleared
- Relevant Guarantees (Proof of finance to cover the transaction)
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Bond switchers / Further bonds
A person or company switching or applying for a second bond will only be
allowed to access the money from the bond once the new bond has been registered.
If the bond has been approved by a financial institution we can advance up to
80% of the bond amount immediately.
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Purchasers
In cases where a buyer has been granted a bond in excess of 100% of the
purchase value, we advance the excess funds to the buyer immediately to assist
in paying transfer duty.
Estate Agents
The Estate Agent makes the sale but often has to wait for the transfer to go
through before the commission can be paid. We give both the Estate Agency and
the agent the ability, on a per transaction basis, to access their commissions
upfront.
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Other Articles:
Frequently Asked QuestionsEstate AgentsBond SwitchersProperty Sellers
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