PROPERTY BRIDGING FINANCE
GET SHORT TERM FINANCE AGAINST THE PROCEEDS OF A PROPERTY SALE BEFORE THE REGISTRATION PROCESS IS COMPLETED
At Lamna we offer bridging finance against property sales of up to 75% of the available funds on transfer.
PROPERTY BRIDGING FINANCE SOUTH AFRICA
In South Africa, it can take three months or even longer between the time you sell a property and
the date it’s registered in the new owner’s name at a Deeds Office.
During this time, you have to wait for settlement of the value of the property sale. Property bridging
finance can help you “bridge” the gap.
WHAT IS PROPERTY BRIDGING FINANCE?
Lamna offers a short-term finance solution that is quick and easy to arrange.
This kind of finance may enable you to cover costs so the sale can go through. For example, these
costs may include outstanding municipal accounts or property taxes. It is also useful as bridge
financing for home purchase, to cover expenses associated with buying and moving to a new home
WHEN CAN YOU GET BRIDGING FINANCE AGAINST SALE OF A PROPERTY?
You can apply for property bridging finance once your property has been sold and the full purchase
price is secured. You can then use the finance to cover any expenses you choose.
Documents required for property bridging finance:
- signed deed of sale
- signed transfer documents
- guarantees for purchase price.
Latest Assets News From The Lamna Blog
Bridging finance can help when a property transfer takes months to process.
Property sale advance loans can give you access to the proceeds of a property sale before registration.