Bridging Finance
What is Bridging Finance
It can take up to 4 months before you see any funds when you sell a home. As a property seller, buyer, developer or Estate Agent, you can take advantage of a short term advance called Bridging Finance to aid with any cash flow requirements until transfer of a property has taken place.
Why Choose Bond Choice Bridging Finance?
PEACE OF MIND – Although there are other bridging finance providers available, it makes sense for you to use and recommend Bond Choice since it is a leading mortgage originator, adhering to the principles of the Code of Banking Practice and the National Association of Mortgage Originators. Bond Choice Bridging Finance is also NCA compliant.
SPEED & CONVENIENCE – Our advanced computer systems limit the paperwork which means it could take as little as 24 hours to get your advance paid out electronically.
SERVICE – You will receive knowledgeable, expert assistance with your bridging finance requirements from a personal Bond Choice Bridging consultant.
The Products We Offer You
If you sold your house, and you sold it for more than you bought it, or was worth, then you are getting a profit on the transaction. This leaves you with a nice cushion to use as a deposit on your new purchase.
- 100% of Transfer duty, rates and taxes and personal taxes
- 85% of Advances on second bonds and switches
- 80% of Advances on sellers equity
- 80% of Eatate Agents commission
An Example
| You are selling your property for | R1 200 000 |
| The cancellation figures | R700 000 |
| Your equity is | R500 000 |
| We will advance up to 80% of your equity (Bridging facility available) | R400 000 |
| You request | R100 000 |
| The deal takes 35 days to register | |
| Daily fee - R115.00 x 35 days | R 4 025 |
| Plus admin fee | R1 000 |
| Total fee | R5 025 |
What will it cost me?
Bond Choice Bridging Finance charges NCA compliant preferential rates for the bridging finance. These are based on each individual’s requirements and financial standing.
How can we help you?
Choosing Bond Choice Bridging Finance gives you all the convenience and personal service you’d expect from a leading mortgage originator. Our close links with attorneys and conveyancers means that paperwork is processed faster – and your Bond Choice Bridging consultant will be there to help you every step of the way.
How do I apply?
Please fill in this short form and one of our skilled Bridging Finance Consultants will contact you to discuss your options.
