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briding

Finance when you need it most!

BRIDGING FINANCE

Bridging finance is a short-term loan that enables you to pay for important property costs when you do not have immediate access to your own funds. It is quite expensive but importantly, enables a property transaction to proceed without delay

How can A Bridging Loan help you?

  • Access funds during the sale of your property

    You’ve sold a property and it takes up to 90 days, and longer, for the transfer to be registered and the sale proceeds to be paid to the seller

  • Pay outstanding accounts

    You need to pay for rates and levies in advance in order to obtain a clearance certificate

  • Get money for Deposits, Transfer duties and more

    You need to pay the deposit, transfer duty, or the shortfall on the bond on a new house and you’re waiting for a fixed deposit to mature

  • While you wait for your Further Loan

    Applying for a further bond and the proceeds thereof will only be paid to the property owner on registration of the bond in the Deeds Office.

Apply now

    Complete this quick form and we will contact you about your application.

    *By submitting this form, you agree to be contacted by one of our consultants. Your details are safe and in line with our privacy statement

    Useful Information

    Bridging Finance is an interim financial solution
    Bridging finance is a short-term loan, usually for a period of two weeks to about three years. It is interim financing before a permanent loan or the next stage of financing is settled. Once the permanent loan is acquired, some of the money is used to settle the bridging loan before proceeding with the other financial obligations.

    The Ins and Outs of Bridging Finance
    Bridging finance is more expensive that other forms of financing. The extra interest levied on the loan takes care of the risk involved in dispensing the loan. The fee paid for processing the loan is also higher than that of conventional loans. There might be other costs that are amortized over a shorter period such as equity participation for the lender. When applying for a bridging loan, the lender may ask for collateral from several sources and a lower loan to value ratio in order to cover the extra cost. Nevertheless, the process of applying for the loan can be quite simple.

    Bridging finance is very common in the commercial sector where the borrowers would like to have the finance to close on an opportunity. What about property deals? Many buyers take a bridging loan to buy a well-priced property, quickly. Others take such loans to prevent a foreclosure that could be in the offing.

    What About Rates And Taxes?
    Remember, there might be other costs which need to be paid for in advance, such as rates and levies. In order for a property sale to be registered with the deeds office, the local council needs to issue a Rates and Taxes Clearance Certificate. Any arrears on your rates and taxes account need to be settled immediately.

    Get more useful tips on our Blog

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