Bridging Finance for estate agents
Waiting for your estate agent’s commission to be paid out on the sale of a property can be frustrating, especially when cash flow is tight. Bayside Finance have a solution.
When a property has been sold, commission due to estate agents or property broker are only released once the sale of a property has been registered.
This delay can put unnecessary strain on the estate agent.
An agent can secure funds in advance of property registration and property transfer.
We will advance up to 70% of the nett commission due, excluding vat within 24 hours of the letter of undertaking being issued by the transferring attorney. All we need to be sure of is that the sale transaction or purchase transaction is secure and will go through. 100% of the purchase price needs to have been secured.
The Principal of the Agency concerned needs to give consent to the Agent applying for bridging finance
We take it a step further and bridge on both sales and lease for residential and commercial transactions.
Loans with Bayside Finance Solutions are quick and easy.
There is a fee for up-front agent commission bridging. You will be given quote on bridging fee rate before having to sign the loan agreement. Borrowing against house sales commission is really quick and a lot easier than you think.