Property Bridging Finance


Marlin Credit Services has been offering bridging finance since 2000. We pride ourselves in assisting clients with property bridging finance in a respectful and dignified manner at all times. Each client matters on a personal and professional level.

Our application process is streamlined and simple to ensure efficient and speedy processing and approval. We can advance up to 85% of the net proceeds and commit ourselves to a 1-hour turnaround time for approval, subject to the transaction requirements being met and the required documents and information being submitted for processing by the transferring / conveyancing attorney. 

 

Our Products / Services

 

Property Seller Bridging Finance



The conveyancing process to register the property to the new owner and for the seller to receive his property sale proceeds can take anything from 6 to 12 weeks. Many sellers need funds beforehand for Rates & Taxes, Compliance Certificates, paying a deposit on a new property, for personal use, etc.

Marlin Credit Services can advance a portion of your property sale proceeds to you if you are selling your property, which include vacant stands, houses, commercial property, etc. No building loans, property developments, etc.

 

Property Buyer Bridging Finance



The process of buying a property with an approved bond or buying a property through the sale of another property you have, is usually dependent on the registration of the bond or the registration of the sale of your previous property. Typically the payment of transfer duty and costs or other relevant costs, have to be paid upfront to the conveyancer but the funds will only become available upon registration.

Marlin Credit Services can advance a portion of your approved bond or the proceeds of a prior sale to buy another property (subject to the finance/proceeds exceeds the purchase price).

 

Further/Second Bond or Bond Switch Bridging Finance



The process to access funds from a further bond, 2nd bond or a bond switch typically takes 30 days. You might need funds for personal use.

Marlin Credit Services can advance a portion of this prior to registration.
 

Agent Commission Bridging Finance



The process to receive Estate Agent Commission is dependent on the registration of the property to the new owner.

Marlin Credit Services can advance a portion of agent commission upfront before registration of the sale.
 


Apply for a Property Bridging Loan

Application process
 

The Attorney Office submits a completed Discounting Affordability Schedule (client/applicant signs as well) along with the relevant supporting property transaction documents and information (based on the transaction type).

The Assessment is done and outcome given within 1 hour of receipt of the supporting documents and information from Attorney office subject to approval requirements being met.

Upon approval, a Quote and Agreement is issued to the client for signature.

Once the signed Quote and Agreement is received back, pay-out is done with immediate availability to the nominated Attorney Trust account and/or Client’s personal account. (Subject to an Undertaking from the Attorney/Attorney Firm).

 

Repayment
 

Settlement of the bridging finance is done by the Attorney firm upon registration of the transaction.

No penalty fees for early settlement or settlement after the quoted repayment date.
 

Property Bridging Finance Fees & Interest
 

6% initiation fee (excl. VAT), calculated on the loan amount
Min fee R 1500 excl. VAT, Max fee R 6000 excl. VAT
0.075% per day for the first 45 days.
0.115% per day from day 46 onwards (R1.15 per day per R1000)


Apply for a Property Bridging Loan
 


Please feel free to contact us should you wish to find out more about our services.

 

 

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