Settlement Advances are often seen as a quick alternative to a bridging loan, when funds are needed quickly and the loan term does not need to extend over a few months.
One of the advantages of a settlement advance, is that they can often be approved much quicker than a bridging loan, which is important in an emergency, such as when you wish to put down a deposit on a property and can't wait until the settlement date.
Another advantage, is that as the loan term is already known to align with the property settlement date, the loan is only needed for 1 or 2 months and so the borrower will not have to continue paying monthly bridging loan charges any longer than they need the loan for.
Advances can be approved and paid out in one or two days from the time of application up to a maximum of 80% of the property value or $5,000,000.
The service is Australia wide and provides an alternative to bridging loans when funds are needed in a hurry to bid at auction, put down a deposit or buy a property outright before the settlement date.
ABN 72 639 613 808 | ACN 639 613 808 | DUNS 746962242