Let us help you pay for those bond registration and transfer costs. Have your home loan services & bridging finance managed by one company.
What do you mean I don’t qualify for 108% loan? How am I supposed to pay for my bond registration and transfer costs? I can’t just fork out R40 000! Plus attorneys charge an absolute fortune for bridging finance.
Well we have the perfect solution for you! Bridging Finance made simple.
Definition: Bridging finance is the finance that attorneys and financial institutes provide to clients who cannot afford the bond registration costs that are included with registering and bond.
As you may or may not know, 108% loans or first time buyer loans, are loans made available to first time buyers. Only a selected and lucky few get their costs included when applying for a home loan the second time. As we all know, money is never free of charge and the banks are the first people to make sure that you know this. On a bond of R850 000 your costs are broken down as follows:
Bond Costs: (For an explanation of these costs please see bond registration and transfer costs explained)
Transfer Costs: (For an explanation of these costs please see bond registration and transfer costs explained)
Not everyone has R40 000.00 available to pay for these costs. That’s where we come in. IT’S THAT SIMPLE.
Bridging Loans using loose or movable Assets
Did you know that you can use loose /movable assets such as non-property assets such as gold, diamonds, cars, trucks, insurance policies ( with savings) airplanes, plant and equipment and many other loose assets, valued over R 50 000 and up to R 50 million (or more), to access bridging finance.
So we have a very simple process and very simple conditions.
Your Asset – has to be stored in the lenders warehouse until the loan is repaid. So make sure that this is possible. It is safe and secured.
There is a cost involved – 10 % per month plus 1,5 % Initiation fee and the period is an average of 30 days BUT if you can service the interest (10 % per month then the loan can run indefinitely).
Of course we will require documents such as standard FICA – ID, Proof of Residence, Loan Agreement and Personal Surety and then all or any Insurance Policies need to be ceded to the lender and Cars will need a transfer of ownership papers signed but the transfer does not take place unless there is a default situation.
…and the whole deal can be finalised within days.