Making better choices
is not always this easy

 

Bridging Finance

Sold your home for a profit, and now need to wait 3 months to get hold of the profits?

Receive up to 80% of your surplus upfront!

Do you require funds for:

  • Transfer duties
  • Outstanding Rates and Taxes
  • Municipal charges
  • Conveyancing Fees
  • 2nd Bonds
  • Estate Agents Commissions
  • Moving
  • Personal Use 

What is bridging Finance?

Bridging finance is essentially a short term loan that is set up between you and a financial institution that specializes in these loans, which allows you to gain access to your money.

Bridging Finance allows you access to your surplus funds in the early stages of the transfer and/or registration process. The normal transfer / registration process can take up to 3 months. Olemera Financial Services can advance up to 80% of the surplus funds within 2 days from signing all documentation with the attorneys.

Who Qualifies? 

1st Bonds

Sellers:

  • Property sold at a profit where there is a surplus available after costs have been deducted.

Buyers:

  • Bonds granted where bond amount exceeds 100% of the purchase price.

2nd Bonds

  • Surplus available after all costs have been deducted.

Bond Switch

  • Surplus available after all costs have been deducted.

To work out your surplus you take what you sold your house for, take off your current outstanding bond value and any legal fees and other costs like the commission the agent takes, and this would leave you with your surplus.

 Price for your house  R 400 000
 Minus outstanding bond  R 300 000
 Minus the costs  R   20 000
 This leaves you with a surplus of  R   80 000
 Maximum Amount for a bridging finance loan (80%)  R   64 000

Bridging Finance from Olemera Financial Planners

Contact our financial planners for more information about our financial bridging services.

 

The Importance of Having a Financial Plan for Your Future

[Title]

In this blog post, we will explore the importance of having a financial plan for your future and the benefits it can bring to your life. Whether you are starting your career or nearing retirement, having a financial plan can make all the difference in achieving your financial aspirations.

Read More ...
Posted by Gary Walker on Monday, February 20, 2023 Views: 433

Inflation and Your Personal Financial Plan

[Title]

Inflation is a critical economic concept that affects everyone, whether they realize it or not. In South Africa, inflation has been a constant feature of the economy for decades, and it can have significant implications for your financial plans.

Read More ...
Posted by Gary Walker on Thursday, February 16, 2023 Views: 331

Preparing for Financial Year End in South Africa

[Title]

It’s that time of the year again and as we approach financial year end in South Africa, now is a good time to make sure you have all your ducks in a row.

Read More ...
Posted by Gary Walker on Tuesday, January 31, 2023 Views: 129