Bridging Finance

Bond Gallery, in association with our partner Rodel Financial Services, offers homeowners and homebuyers a Bridging Finance product that is geared to provide a short-term advance of YOUR money while waiting for:

  •   the sale of your house to be concluded and the profit from the sale;
  •   the second bond on your current home to be registered;
  •   the formalities to be concluded when you switch bonds and receive any surplus cash;
  •   the registration of your new home recently bought.

With Bridging Finance, you get the financial certainty of knowing your money is available right away. Although, this could take up to 3 months before the profits from the sale of your house will be paid to you. This can be a serious setback if you are waiting for funds to pay a deposit, pay outstanding rates and taxes, or need cash to settle any debt.

How Does It Work?

Our Bridging Finance partner, Rodel Financial Services, purchases the up-and-coming proceeds of the sale of your property or new bond from the attorney. They then make these funds available to you immediately before the bond registration takes place.

How Much Money Can I Get?

You are advanced up to 80% of the profits (equity) of the sale of your home or new bond value. The remaining 20% will be paid to you on completion of the standard transfer process.

Proceeds of sale of house 500 000
Minus outstanding bond amount – 400 000
Equals a profit (equity) amount of 100 000
Maximum amount available for Bridging Finance (80%) 80 000

Estate Agents

We can also assist estate agents who have concluded a valid sales agreement, but would normally have to wait up to 4 months for their commission to be paid out to them.

  • Up to 80% of the commission can now be advanced prior to a transfer taking place.
  • There are no liabilities for a principal if agents in his/her employ bridges the commission, the principal simply has to sign consent.
  • Knowledgeable, professional consultants will advise you.
  • We take care of all the paperwork.
  • Once an agent has registered it will take 24 hours for the monies to be paid.
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