Property Traders – unlock your portfolio growth!
Get more buying power for property auctions.
This product is designed to facilitate taking advantage of property auctions.
The banking system often takes too long to process and activate loans. Where traders are confident that they can repay the loan within an agreed few months and are able to demonstrate such ability, our auction funding loan may be the answer.
Access your equity quickly and efficiently
- Facilities available between R500,000 and R5,000,000
- Cash flow stresses are a thing of the past – trade more properties at the same time
- No interest is charged before the payout, and no pressure to sell the property before taking transfer
- Allows time to market the property properly to get the best price or renovate the property if necessary
- Confidence that you can secure the purchase price in the required time frame without penalties
Qualifying criteria
- An unencumbered property over which Prevance will register a first mortgage bond as security
- The borrower (client) must be a juristic person i.e. a company or close corporation
- Financial statements and other financial information will assist the process
- Prevance is repaid once the property is resold and the transfer takes place – repayment should take place within 6 months
