Bridging Finance

What is Bridging Finance:

You may have found your dream home but have not yet managed to get equity or profits from the sale of your existing property. Without the proceeds from the sale of your existing property, how can you afford to buy the new one - especially if you want to put down a deposit and proceed with the buying and registration process?

Bridging Finance enables you to purchase such a new property whilst awaiting the proceeds of your existing property. In this way, Advances.co.za is able to help you buy the new property you want, when you want it.

How does Bridging Finance work?

Advances.co.za offers you financial assistance - to meet your immediate individual needs. The following scenarios illustrate how Bridging Finance can work for you.

Scenario 1 - You may have an existing home loan and require finance to meet the short term gap in the timing between receiving the funds from the sale of your home and buying a new property. To meet this short-term need, we will assist you to bridge 80% of the equity in your property, paid into your bank savings account within 1 working day from approval.

Scenario 2 - You may require funds for a short period of time awaiting the registration of a second bond, and plan to repay the bridging loan in full from the proceeds of the second bond. These funds can be used for home improvements etc.

Bridging Finance Requirements
Apply for Bridging Finance

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