086 111 2866

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
yourself.

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.

Speak to a consultant

086 111 2866

or Apply online

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Speak to a consultant

086 111 2866

or Apply online

Find out more securing bridging loans on property in South Africa
Have Questions?
Know more and read our FAQ’s or contact us if you have any queries.
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APR & Loan repayment period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.

Renewals

All accounts may be renewed if they are up to date.

Collection

All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.

Non-payment

Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repayment Period Monthly Repayment Total Cost of Loan Initiation Fee Monthly Fee
(Interest + Service charge)
APR
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%