PRODUCTS & SERVICES

ADVANCE AGAINST APPROVED BONDS
A property owner who has been granted a new or further mortgage bond over his/her property or, a property owner who has elected to switch bonds, and needs to access immediate cash can make application to Richway for an advance of up to 50% of the proceeds due to such property owner from such mortgage bond proceeds, before registration. Richway Mortgage Bonds Advance Facility is designed to cater for the delay which will usually pay out once the bond documents have been signed.

• Advance up to 50% of the total net proceeds prior to registration
• Fast process and approval once we have received all required supporting  documents form the bond attorney’s
• Take advantage prior to registration (immediate cash availability) – why wait?
• Affordable rates for a quick, efficient and hassle free process

Richway Seller’s Proceeds Advance provides a seller of a property with an upfront cash advance once the seller has successfully sold his/her property, but prior to the registration of transfer of the property into the buyer’s name.

This means that when the purchase price has been secured by your buyer, Richway can advance to you, as seller, an amount up to 50% of your total net proceeds of the sale (i.e. after deduction of the bond amount and all related costs).

The funds can be used for any purpose and may include being utilized for the rates and taxes required to be paid to the council before transfer of the property can take place or a deposit on your next property purchase.

Why wait for the lengthy process until registration of transfer before you receive the funds when part of the funds can be accessed sooner.

The process to access our funding is simple and plugs into the conveyancing process.
Your conveyancing attorney will sign a one page undertaking to repay Richway from the proceeds of the sale of your property once registration of transfers has taken place at the deeds office.