Real estate investing
Even on a very small scale, remains a tried and true means of building an individuals cash flow and wealth. With the Mega Finance ® property term loan you can access that wealth quickly as and when you need it.Property is a sensible investment made by many… But it can also be a lifeline in troubling financial times, selling it may leave you financially vulnerable in the future. Selling it in under pressure and under someone else’s terms may mean that you lose out on gains achieved over time.
With the Mega Finance ® property term loan your unencumbered property can continue to be used as usual, but in private it can also be leveraged to secured a loan. Simply speak to us to find out what solutions can be put together for you. To find out if you qualify for a property term loan fill in an application form online today. We will contact you as soon as we have received it.
Requirements
Only property with zero debt outstanding can be accepted. Therefore if there is any bond over the property then it will have to be settled within the terms of our agreement.Only property with a value of over R1 000 000 will be accepted.
We will register a bond over the property and take possession of the title deed.
Once the loan amount has been paid back with agreed interest the bond will be cancelled and your title deed returned.
In certain approved transactions, Mega Finance may consider a funding arrangement involving the transfer of ownership of the property to Mega Finance as part of the agreed transaction structure.
Where this arrangement is approved, the terms governing the transfer, repayment obligations, associated costs and the circumstances under which ownership will be transferred back to the client or their nominated entity upon settlement of the outstanding debt will be recorded in the relevant written agreements.
All property transfers will be facilitated by the appointed conveyancing attorneys and registered at the Deeds Office in accordance with applicable law.
The applicable funding structure will be determined by Mega Finance management and confirmed in writing before the transaction proceeds.
Funding Turnaround Time
Although this process may involve additional legal and administrative steps, Mega Finance aims to make the process as efficient as possible. Once the appointed attorneys have received all the required documentation and the necessary legal requirements have been satisfied, funds may be released within five working days, and sometimes sooner, depending on the complexity of the transaction and the completion of the necessary legal formalities.