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.

 

Business Financial Planning in South Africa

[Title]

Financial planning in business is not only about reacting to immediate financial concerns but also about preparing for the future. Whether it’s ensuring the company has adequate business insurance, planning for leadership transitions, or investing in wealth management strategies, every decision should be made with sustainability in mind.

Read More ...
Posted by Gary Walker on Wednesday, February 19, 2025 Views: 800

Your Ultimate Tax Planning Guide

[Title]

South Africa’s tax system is regulated by SARS, which oversees the collection of taxes and ensures compliance with the law. Every individual and business earning income within South Africa is required to contribute, based on specific rules that determine their tax obligations.

Read More ...
Posted by Gary Walker on Wednesday, January 29, 2025 Views: 900

Budgeting For Christmas – How Not to Go into Debt Over the Festive Season

[Title]

The festive season can be a time of financial strain as the pressure to spend on gifts, meals, and decorations mounts. Practicing effective budgeting for Christmas is essential to ensure you enjoy the season without sacrificing your financial stability or going into unnecessary debt.

Read More ...
Posted by Gary Walker on Wednesday, December 4, 2024 Views: 751