In simple terms, a guarantee is a promise—whether it’s someone assuring you they’ll deliver on a task or, in the financial and property sectors, a formal commitment from a bank.
When you’re getting a bond, the bank issues a guarantee, a document that says they promise to provide the funds for your property purchase.
This document is vital in the process and plays a key role in ensuring everything goes smoothly.
But what does this have to do with bridging finance?
Quite a bit, actually. A guarantee is one of the critical documents we require to proceed with releasing your funds. Without it, we can’t move forward because it’s our assurance that the sale is going ahead as planned.
Many clients ask if we can proceed with the bridging finance even if the guarantee is still pending. Unfortunately, without that piece of paperwork, we must hold off to ensure the security of the transaction.
However, this doesn’t mean you’re left waiting. While you’re awaiting the guarantee, we can start preparing other essential paperwork.
By getting everything else in place ahead of time, we can act quickly once the guarantee is issued, ensuring you receive your funds as promptly as possible.
If you’re in the process of selling your property and haven’t yet received your guarantee, don’t worry—reach out to us.
Thank you, and enjoy the video below.
Gal Ezra
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