 |
Typical Bridging Loans |
|
|---|---|---|
| Borrow up to Available Equity1 |  |
 |
| Same Day Approval | |
|
| Typical Funding Time | 24 - 48 Hours | 2 - 3 Weeks |
| No Application or Admin Fee | |
|
| One-off Credit Fee2 | |
|
| Get Started |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
|
Typical Bridging Loans |
|
|---|---|---|
| Borrow up to Available Equity1 | |
|
| Same Day Approval | |
|
| Typical Funding Time | 24 - 48 Hours | 2 - 3 Weeks |
| No Application or Admin Fee | |
|
| One-off Credit Fee2 | |
|
| Get Started |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
| Example | Borrow | Repay |
|---|---|---|
| Preparing for Sale Costs | $10,000 | $10,600 |
| Property Advertising Costs | $15,000 | $15,900 |
| Pre-Sale Property Repairs | $25,000 | $26,500 |
| Deposit for New Property | $80,000 | $84,800 |
| Bid at Auction for Property | $150,000 | $159,000 |
| Purchase Property | $500,000+ | VIP Rates* |
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
Home settlement advances or pre-settlement advances allow a property seller to get access to funds, from a property sale before the property finally settles. They are similar to short term bridging loans, except they can usually provide the funds to the seller much faster and with fewer checks than via traditional lenders or banks.
Settlement advances with us( Realty Assist) can be paid out on the same day in some cases, but usually within 24 hours to 48 hours of contacting us.
A settlement advance can be used for many purposes from putting down a deposit on a new property, providing funds for a property at auction or even advancing the complete purchase price for a new property - fast!
See How it Works above to learn more.
To qualify with Settlement Advances, your property should be available for sale, in the process of being sold or has already sold, but you do not currently have access to the funds.
With settlement advances, the advance is secured against your property with the upcoming sale.
You should have available equity in the property1, up to the amount of the advance you wish to borrow, minus any fees.
In order to qualify with Settlement Advances with your settlement advance enquiry;
You must:
Settlement advances can be useful in a number of situations, where you are asset rich( in a property) and have a shortfall in cash and need access to your equity fast.
If you are in the process of selling your property, you know that when your property sells, the equity that you have built up in your property will be available to you, however if you need to make use of that locked up equity before the settlement date, a settlement advance may help.
Some common examples include:
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
David was advanced $88,000 on his home settlement to bid at auction
David sold his property on a Tuesday and wished to attend an auction on the upcoming Saturday to purchase his new property. Unfortunately, the banks advised a wait time of approximately 14 days to get a bridging loan in place. This would mean David would miss out on the auction and perhaps buying his next home.
Luckily, with Settlement Advances, David was quickly advanced $88,000 on his pre-settlement on the same day he applied and was able to bid at the auction. He was successful in winning the auction!
David got the home he wanted and got the funds in his account within 15 minutes of his application for a small fee of just $3,695.
Susan was advanced $260,000 on her home settlement to purchase a retirement home
Susan was looking to purchase in an over 55's. Retired and equity rich but cash poor, she was unable to service a loan for the deposit to make the purchase into the new property.
RealtyAssist was able to help with the entire purchase price of $260,000 in under 48 hours and Susan settled on her new place before she settled on her sale. The sold home settled two weeks after she was already happy in her new home.
* Customer stories have been anonymised to protect customer privacy
A settlement advance allows a home seller to access their home's equity from a sale early without waiting for the funds to be released from the bank. A settlement advance can be a faster alternative to traditional bridging loans when the funds are needed are needed in a hurry or urgently.
See How it Works above to learn more.
If you don't have an urgent need then that may be the best option for you to take.
However, if there is an opportunity that can't wait and will be missed by waiting, then a pre-settlement advance could help you secure the funds you need in time.
An example would be when you need to put down a deposit on your next home purchase, or bidding at auction for a property, which occurs before the settlement date. If you don't have the funds to complete the deal, you could miss out on securing your new home.
Yes it could. Settlement Advances( Realty Assist) specialise in providing fast settlement advances as a quicker alternative to bridging loans. Simply get started by completing the form above and select 24 hours. If you apply early enough in the day, your advance could be funded on the same day you apply. Otherwise it will be processed within 24 hours, during regular office hours. After you have made your enquiry, we'll give you a call back to answer any questions you may have, and let you know if their are any documents we need to see in order to get your settlement advance processed to meet your needs or deadline.
The online application is very quick and easy to complete. It should only take you 2 or 3 minutes to complete. All we need are your contact details, some details about the property you are selling and a few details about the settlement advance you wish to get. Once we have those details, we can give you a call back to answer your questions and let you know what documents we need from you to complete your advance.
The minimum advance with us $5,000, while the maximum goes up to the available equity in your property1, minus any fees - such as $1,000,000. If you are borrowing more than $500,000 with us, we can offer you lower VIP rates* for larger loan sizes, going up to a maximum of $5,000,000.
This will depend on how much money that you choose to advance with us and on how long you need the advance for, before it is repaid to us. At Settlement Advances( Realty Assist), we are very transparent with our costs and charges, and any costs will be clearly available in your contract when you agree and sign. See the Repayment Costs Chart above for some common examples of uses and costs.
Also see our Costs and Charges page for further information and to check out our loan calculator.
Settlement advances are often a much quicker option from bridging loans. Bridging loans can often take 2 or 3 weeks before they can be reviewed and approved. In some situations, such as bidding at an auction or putting down a deposit on a property, the funds are needed urgently and settlement advances provide a huge advantage here, as they can be approved and paid out in 24 to 48 hours in most cases. Also see the Compare Settlement Advances to Bridging Loans chart above.
Your settlement advance is set up to run for an initial 60 days, which works for most people and situations. However, if you need more time after that, then speak with us, requesting to extend the the advance terms.
In most cases we will need to see the following documents and details to support your application with us for a settlement advance:
These documents and details can be emailed directly to us at docs@SettlementAdvances.com.au quoting your name and property address.
Yes, you could. Same day settlement advances are possible with Settlement Advances( Realty Assist). When making your enquiry, please select that the funds are needed in 24 hours for us to fast track your application. We'll give you a call straight back, let you know what documents we need from you and confirm when we estimate your advance can be processed and funded to your bank account. Most applications with us are processed within 24 to 48 hours and sometimes sooner, when the need is urgent.
To help speed up your application, complete the short enquiry form above and give us your advance details (make sure to select '24 hours'), contact details and property details straight away. We will give you a call back, so be ready to accept a phone call from us or give us a call directly to 1300 893 199, during office hours.
We perform certain checks, such as property ownership and confirmation of existing borrowings. If we need to complete a credit check, we will contact you first.
If the property you are selling or have sold is in joint ownership, then yes, you can get a joint settlement advance.
Yes and no. It really depends on your needs. If you are in a hurry and could miss out on an opportunity while waiting for your bridging loan to be processed by traditional lenders or banks, then settlement advances will be a faster option. Settlement advances may come with higher fees but can be processed and paid directly to your designated bank account in 24 to 48 hours with Realty Assist.
If you are in no rush and are happy to wait a few weeks for a bridging loan application to be processed, then this may be a good option for you.
Also see the Compare Settlement Advances to Bridging Loans chart above or our bridging loan alternatives page.
Your settlement advance loan will be set up to run for 60 days, which gives most people plenty of time for their house settlement to complete and repay the advance to us. If you know that you will require a Settlement Advance for more than 60 days, please contact us first to discuss.
Settlement advances can help by advancing your property settlement funds to you, before the property finally settles. This will allow you to successfully bid at auction on your next property.
If you are in urgent need of a large sum of money to put down as a deposit on your new home, before your current property is due to settle, a Settlement Advance could help. We( Realty Assist) specialise in providing fast settlement advances in these kinds of situations.
We( Realty Assist) can also help with advances on your upcoming home sale with our Vendor Paid Advertising product. We can provide advances1 for the purpose of home improvements and repairs to help fix up your property, so it gets seen in the best light - up to $30,000. Improving your chances of a fast sale at the right price.
Yes you could make use of our Vendor Paid Advertising Advance product1. Simply complete the short application at the top of this page to get started. We could offer you an advance to assist with your property sale and marketing costs up to $30,000.
* Contact us, complete the short enquiry form to get started, or give us a call to learn more about our VIP Rates for larger loans.
1 Advances are subject to assessment and approval criteria. Advances can range from $5,000 up to $5,000,000 or the available equity in your property(80% property value) minus fees.
2 Interest on overdue amounts will be charged at a rate of 1.5% of the outstanding amount payable on the 61st day and then every 30 days after the due date.
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