Bridging finance Durban | Bayside Finance Solutions

Property bridge finance company Durban
Opening at 8:00 AM on Monday
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We won't be shaking your hand, but we can certainly help you with property bridging finance in Durban 4001

Bayside Finance Solutions
-29.71213599999999,31.040366
2 Fairways Ave, Mount Edgecombe Country Estate 2, Durban, 4300

Bayside Finance Solutions would like to help you
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Bayside Finance Solutions is open for business during the Covid-19 lockdown period. If you are looking for bridging finance during these difficult times, please get in contact.

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Property bridging finance Durban
Bayside Finance Solutions

In today’s Durban property market, it makes sense to move quickly when you find the property you want to buy. Having to wait until you’ve sold means you could potentially miss out. If you think bridging finance could provide a solution w...

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Selling your house in Durban?

Need bridging finance on your property to cover costs so the sale can go through?

Are you waiting for the payment to come through on the sale of your home? Do you need property bridging finance asap?

It can take three months or more for registration in the new own...

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Are you selling your property in Durban and need a bridging loan? Contact Glenn Molloy at Bayside Finance Solutions
2 Fairways Ave, Mount Edgecombe Country Estate 2, Durban, 4300
Phone: 083 793 9180
Bayside Finance Solutions advance up to 80% on the sale of your Durban property and 70% in the cas...

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Testimonials

6 months ago
Bayside Finance Solutions in Durban offer bridging finance and I highly recommend them for the professional and personal touch they add when helping clients.They have been in business since 2013 and are really quick and efficient when it comes to a loan in the form of property bridging finance. If you are in the process of selling your property and need an advance loan to see you through, give Glenn Molloy a call.
- Steve F

Bridging loans, deceased estates Durban

Bridging finance in Durban is becoming a more popular source of short term finance for those looking to raise money for a property purchase under a tight deadline. We at Bayside Finance Solutions can provide the solution you are looking for.

If you’re looking to buy your dream home but your existing property still hasn’t found a buyer, you may need property bridging finance. Bridge finance helps you fund the purchase of your new property before your existing home has been sold, which means you don’t miss out on buying the home you want, just because you have to wait until you’ve sold your existing home.

Bridging finance is a type of interim loan that allows property owners to access money quickly, rather than going to the bank to cover both existing property and the new property you’re looking to purchase. Repayments on your bridging loan are usually calculated on an interest only basis during the time it takes to purchase your new home and selling your existing home – called the bridging period.



At Bayside Finance Solutions servicing Durban we will consider loaning to residents even if their credit score is not positive, since property is being used as collateral and leveraging its value in order to bridge a short period of time and borrow short term finance.

What are the benefits of bridging finance for your Durban property?

Property bridging finance takes away the pressure of having to match up settlement dates, letting you sell your property without worrying about losing it entirely. It is the best way of buying the home you want immediately without having to wait, letting you make sure you have secured a new property without having to spend a long time worrying about selling your existing house. It is also an ideal option for finance if you’re considering building a new home in Durban while you live in your current home. A mortgage is not an option, as this can take weeks, and getting a definite buyer for your current property may take time. This is one of the most common reasons why Bayside Finance Solutions has more and more clients wanting advice and a bridging solution, as it helps to ‘bridge’ the gap between selling and completion, enabling you to obtain your dream home. 

Selling your property? Need short term finance?

It’s a situation you might find yourself in if you’re buying a new house but still need to sell your old one to fund the purchase. Technically, it actually means you have to service two loans at once for a while, but the bridging finance loan can be a very good option to consider. It’s important to let Bayside Finance Solutions help you to get your bridging loan structured correctly so that it doesn’t leave you with a larger-than-necessary ongoing debt.There are two different kinds of bridging finance.

Closed bridging finance applies when you’ve already sold your existing Durban home and agreed on a settlement date, but you have also bought a new property that settles before the sale of your old property. Therefore, for a short time frame, you will own both properties and the debt that goes with it. 

Open bridging finance applies when you’ve bought a new home but haven’t sold your old one yet. You have agreed to buy your new dream Durban home but don’t know when or for how much you will be able to sell your existing home for. This is a much riskier scenario than closed bridging finance because we don’t know when you will be able to repay your bridging loan. 

Your old house could take ages to sell, and it might not achieve the price you were expecting. Regardless of which situation applies to you, Bayside Finance Solutions may be able to offer you property bridging finance. Talk to us today to discover your full range of options, and to make sure your loan is structured to your best advantage.

Commission bridging

Waiting for your estate agent’s commission to be paid out on the sale of a property can take time and become stressful, especially when you need cash flow. Bayside Finance Solutions can helps estate agents bridge that gap. When a property has been sold, commission due to estate agents or property brokers are only released once the sale of a property goes through.This delay can put an unwelcome strain on the estate agent. Funds can be secured in advance of property registration and property transfer.

Bayside Finance Solutions in Durban will advance up to 70% of the nett commission due, ex vat. This can happen within 24 hours of the letter of undertaking being issued by the transferring attorney. All that needs to be shown is that the sale transaction or purchase transaction is fully secure and will definitelay go through. That means that 100% of the purchase price needs to have been secured.

The Principal of the Agency concerned also needs to give consent to the estate agent applying for bridging finance. We can bridge on both sales and lease for residential and commercial transactions.

We service Durban and surrounding areas

Bayhead, Durban
Bellair, Durban South, 4006
Durban North, 4016
Glen Ashley, Durban North, 4022 
Greyville, Berea, 4023
Hillary, Durban South, 4024
Umhlanga, 4021
La Lucia, 4153
Umhlanga Ridge, Umhlanga, 4056
Maydon Wharf, Durban, 4057
Durban South, 4060
Mobeni, Durban South, 4060
Mobeni East, Durban South, 4060
Montclair, Durban South, 4004 
Musgrave, Berea, 4001 
North Beach, Durban, 4063
Northdene, Queensburgh, 4064
Overport, Berea, 4067
Phoenix 
Phoenix Industrial, Phoenix, 4156
Point, Durban, 4069
Queensburgh 
Red Hill, Durban North, 4051 
Reservoir Hills, Durban, 4090 
South Beach, Durban, 4001 
Springfield, Durban, 4091
Stamford Hill, Durban, 4001 
Umbilo, Berea, 4001 
Umbilo Industrial, Durban, 4001
Umgeni Park, Durban North, 4051
Umgeni Business Park, Durban, 4001
Virginia, Durban North, 4051
Westridge, Berea, 4091
Yellow Wood Park, Durban South, 4011, 
Cato Ridge
Pietermaritzburg
Salt Rock, Dolphin Coast, 4391
Zimbali Coastal Estate, Dolphin Coast, 
Mount Edgecombe, 4302
Brettenwood Coastal Estate 
Margate 
Tinley Manor, Headlands, Dolphin Coast, 
Ballito, Dolphin Coast, 4399 
Westville, 3630
Pinetown, New Germany, 3600
Westmead, Pinetown, 3608 
Cowies Hill, Pinetown, 3610
Hillcrest, 3650
Assagay, Outer West Durban, 3610
Bothas Hill, Outer West Durban, 3610
Kloof, 3640

Deceased estates

Bayside Finance Solutions provide bridging finance to the beneficiary of a deceased estate provided the following documentation can be shown:
  • Letter of executorship
  • Copy of L & D account
  • Letter of undertaking from the attorneys or executor who is winding up the estate.
  • Confirmation of submission of the L & D account to the master

We can advance up to 50% of the cash portion of the settlement due to the beneficiary or a maximum of R100 000 






Contact Us

Contact

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  • 083 793 9180

Address

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2 Fairways Ave
Durban
4300
South Africa

Business Hours

Mon:8:00 AM – 5:00 PM
Tue:8:00 AM – 5:00 PM
Wed:8:00 AM – 5:00 PM
Thu:8:00 AM – 5:00 PM
Fri:8:00 AM – 5:00 PM
Sat:Closed
Sun:Closed
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