Prevance Bridging Finance: Light at the End of the Tunnel

Posted On Friday, 13 October 2017 12:37 Published by
Rate this item
(0 votes)

Buying a home is one of the biggest investment decisions a person will ever make.

Christo_Jonker_CEO_Prevance

In an ideal world, owning a property gives you a certain amount of financial freedom – basically because property is an asset and will generally turn a profit when sold. However, there are instances where a homeowner can no longer afford the bond payments and needs to sell.

Unfortunately, selling a home takes time and even though a buyer has signed on the dotted line, it is usually months before a property is transferred and the much-needed funds are transferred into the seller’s account. This can be problematic, especially for those who need to use any profit made to settle short-term debt.

“Many sellers are unaware that they can access up to 75 percent of the nett proceeds of the sale of their property through bridging finance,” says Christo Jonker, sales and marketing manager at Prevance.

”Although the amount of the advance granted will obviously vary from transaction to transaction and net of the amount still owed on the existing bond as well as other expenses, the fact that cold hard cash could be made available within 24 hours of the application will undoubtedly help those who need to settle outstanding accounts urgently.

“We understand the importance of owning property as well as the importance of using the proceeds from a sale to reinvest in a new property or accessing proceeds quickly when you need to,” says Jonker. Bridging finance is the ideal model for those who have sold their homes and who are in need of urgent financial assistance.”

Have you sold your home/business/commercial property?

Sold a Property and need to advance? This email address is being protected from spambots. You need JavaScript enabled to view it.

Click here for more information

Last modified on Sunday, 05 November 2017 03:21
" "

Most Popular

Vukile transforms Pinetown’s first shopping centre, Pine Crest, into the first choice for shopping

Jul 25, 2019
 ITUMELNG MOTHIBELI
The renovated new Pine Crest launched today after an innovative R200m, 14-month…

Successful construction of CrestAquarium by Concor Buildings

Jul 25, 2019
 CRESTAQUARIUM 1
The indoor CrestAquarium at Cresta Shopping Centre allows shoppers to view more than 30…

The next wave of property development in Africa is coming

Jul 31, 2019
 NIYI ADELEYE
The past decade has seen South African property developers and investors forge their way…

Centurion Mall, Redefine’s largest asset after comprehensive refurbishment

Jul 25, 2019
CENTURION MALL 1
The JSE-listed diversified real estate investment trust Redefine Properties today…

Sandton Central’s private sector green building leadership contributes to better public spaces

Jul 25, 2019
 ELAINE JACK
From 2010, when Nedbank completed its headquarters on the corner of Rivonia Road and…

Please publish modules in offcanvas position.