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 Difference Between an Independent Financial Advisor and a Broker

[Title]

In our previous article, we discussed 5 signs that it’s time to speak to a financial advisor but now you may be wondering what the difference between a financial advisor and a broker is. In this article, we will look at the main differences between these two so that you can understand who you are choosing to look after your portfolio.

Read More ...
Posted by Gary Walker on Tuesday, September 28, 2021 Views: 118

Is it Time to Speak to a Financial Advisor? Here’s How You Know

[Title]

Unless you have a strong financial background which allows you to understand the various markets, investment opportunities, and different savings vehicles, then seeking professional advice from a financial advisor is the best thing you can do for yourself.

Read More ...
Posted by Gary Walker on Wednesday, September 15, 2021 Views: 135

Questions About Your Retirement that You Should be Asking

[Title]

Retirement may seem like it’s a lifetime away, but time has a funny way of moving really fast and before we know it, we are getting used to being at home with no obligation to be anywhere or do anything - blissful retirement after decades of hard work. However, your retirement will be much less blissful if you haven’t planned for it properly.

Read More ...
Posted by Gary Walker on Monday, August 30, 2021 Views: 216

CloseCOVID-19 Corona Virus South African Resource Portal