BRIDGING FINANCE Access to your money quickly

Bridging finance costs

The cost involved is:

• 1% initiation fee on amount advanced up to a maximum fee of R1,000 (Plus VAT)
• R1,12 per R1000 per day

To work out your surplus you take what you sold your house for, take off your current outstanding bond value and any legal fees and other costs like the commission the agent takes this would leave you with your surplus.

If loan is outstanding for 30 days, the total charge would be:

1% Initiation Fee	R640.00
Daily charge (R1,12 X 64 X 30)	R2,150.40
TTotal cost of bridging finance	R2,790.40