As a property developer, you may find your cash resources stretched during the final stages of your project. Other challenges like stricter lending requirements from commercial banks and delays in the transfer of units in a phase can emerge.
How does Rodel fit in?
Standard bridging finance
- Cash advance on completed sales with occupancy certificates but transfers haven’t registered yet.
- Phase 1 complete and sold but transfer pending and need to start Phase 2.
Property-backed bridging finance:
- More flexible (units do not have to be completed).
- Using unbonded property as security you can obtain a 6 month bridging loan.
- Loan does not need to be serviced but repaid in a single bullet payment at the end of 6 months.
- Could be used to finish work to a stipulated level to release the next round of mother-bond funding.