How Does Bridging Finance Work In South Africa?
This is a question that we got directly, what is the difference between South Africa and other countries?
Bridging finance in South Africa is unique because in other countries there isn't a three month waiting period for your money. Here in South Africa, the process takes a bit longer.
There are more steps with the attorneys and with the deeds office in order to get your money. That takes about three months. In the US, for example, that can take about two or three weeks.
So it's much longer here, which is why there's bridging finance in the property industry. In some other countries, there is bridging finance, but it's a little bit different. In South Africa, there is that uniqueness, which is the two to three month waiting period, and you need your money.
So that's where we come in. And that's where we assist with our bridging finance service. I hope that makes sense and gives you a bit more clarity as to what the difference is and what's unique about bridging finance specifically in South Africa.