Bridging Loans South Africa

8. Bridging Loans South Africa

Bridging Loans in South Africa – A Bridge To Help You Reach Your Dreams

When you ready to take out a bridging loan there are a lot of things to factor in and keep in mind. You want a bridge loan to be one that you can access when and where you need it. But of course, you may have questions about this type of loan. If you live in South Africa, we can help you with questions like: When do I know if I need a bridging loan? How do I know if I can apply for one? How soon will I have an answer after I apply?

Applying for Your Loan

If for example you are purchasing a property and you’re trying to close on an old property while you’re waiting for closing – which can sometimes it can take anywhere from 1 to 3 months, a bridging finance loan can help to ensure that you get the money when and where you need it. But how do you find a bridging loan in South Africa? By contacting us, we can help you to fill out and complete the appropriate paperwork. You can contact us through our website, or you can contact us by phone and we can help answer questions that you may have. We service bridging loans all over South Africa.

You may find it the process is relatively easy a bridging loan is different from a regular long term loan in that you are able to set up the loan the way that you want. Whether its from 2 months, 3 months, to a year or two, or three years, the terms can be different, the interest rate may be a little higher, so make sure to check into this ahead of time and learn about their terms and conditions.

Can a Bridging Loan Help Me With Debt?

Yes, the benefit to having a bridging loan whether you live in Johannesburg, Wellington or Cape Town, or anywhere in South Africa, is you can find a bridging loan to help you with debt consolidation. The benefit to having a bridging loan when you refinance your debt is that with your debt payments, you can take all of your debt, add them together, roll them into one payment and make that your bridging loan and then you can have the stress relieved from you in knowing that you don’t have to worry about debt consolidation. You don’t have to worry about further interest payments from creditors. You don’t have to worry about collection agencies and harassing calls that you were receiving, and you can also start rebuilding your credit as you have now paid off your credit cards.

Can I Use a Bridging Finance Loan For a House?

Yes, if you find a house that you want to purchase in South Africa, and let’s say you have an older house that you’re moving out of, your bridging loan is a way to bridge the gap. What a bridge alone does is it gives you a certain amount of money that set aside that you can use for whatever you need like a new repairs in your home or you can use it towards your down payment on your new house. As you sell your old home, that money, or a portion of it that’s allocated towards your bridging loan, will pay off your existing loan. It’s that simple! Contact us today and we can help you set up your loan terms and explain interest rates to you, discuss financing and discuss any questions you may have.