What is bridging finance?
Bridging finance is a short-term loan, usually taken for a period of 3 to 4 weeks that creates a bridge between immediate cash flow requirements and the eventual entitlement to funds. It is most commonly used in the property sector as it is standard for the proceeds to be paid out of the relevant parties only upon registration of the transaction in the Deeds Office. This process can take anything from 6 weeks upwards and bridging finance gives property owners, sellers, estate agents the opportunity to obtain an advance on the proceeds due to them when they need it most.
Who can apply?
Estate agents and Agencies with a valid Fidelity Fund Certificate who are awaiting commissions, property owners who have sold their property and are awaiting registration of transfer or are taking out a first or further mortgage bond on their property.
When can I apply?
Once the Offer to Purchase has been signed, the full purchased price is secured, and all suspensive conditions have been fulfilled.
How much can I apply for?
Property owners can apply for up to 80% of their net sale proceeds. Estate Agents can apply for up to 85% of their net commission.
How fast is the process?
We strive to make all payments within 24 hours of receiving the signed application.
How much does it cost?
Contact us for quotation.
Bridging finance is a short-term loan, usually taken for a period of 3 to 4 weeks that creates a bridge between immediate cash flow requirements and the eventual entitlement to funds. It is most commonly used in the property sector as it is standard for the proceeds to be paid out of the relevant parties only upon registration of the transaction in the Deeds Office. This process can take anything from 6 weeks upwards and bridging finance gives property owners, sellers, estate agents the opportunity to obtain an advance on the proceeds due to them when they need it most.
Who can apply?
Estate agents and Agencies with a valid Fidelity Fund Certificate who are awaiting commissions, property owners who have sold their property and are awaiting registration of transfer or are taking out a first or further mortgage bond on their property.
When can I apply?
Once the Offer to Purchase has been signed, the full purchased price is secured, and all suspensive conditions have been fulfilled.
How much can I apply for?
Property owners can apply for up to 80% of their net sale proceeds. Estate Agents can apply for up to 85% of their net commission.
How fast is the process?
We strive to make all payments within 24 hours of receiving the signed application.
How much does it cost?
Contact us for quotation.