Let's say you've sold your home and made a R150 000 profit. The bank will not release this capital to you until the sale has been registered to the new owner which can take up to several months. However you may require that money right now as a deposit for your new home, transfer fees, etc. This where bridgning finance comes in - you get a short term loan until the bank pays you the profit you've made on the sale of your home.
Let's say you've sold your home and made a R150 000 profit. The bank will not release this capital to you until the sale has been registered to the new owner which can take up to several months. However you may require that money right now as a deposit for your new home, transfer fees, etc. This where bridgning finance comes in - you get a short term loan until the bank pays you the profit you've made on the sale of your home.
