ASCENDANT BRIDGING SERVICES

is designed especially for sellers and buyers (sold - now buying) who require funds immediately from the proceeds of the sale (selling price less bond amount less all costs), or for property owners who are registering a second or third bond over their property and require the cash immediately. Upon request and completion of certain documents, Ascendant will advance up to a maximum of 80% of the proceeds to the client, via the conveyancer, in respect of a particular transaction.
A cession is taken of the proceeds and the conveyancer gives Ascendant an irrevocable undertaking to pay Ascendant on registration.

 

BRIDGING SERVICE DOCUMENTS :

To apply for Ascendant's Bridging Service, please complete the Attorney Details document, and send it together with the required Supporting Documentation by fax.

BRIDGING SERVICE PROCESS FLOW

ASCENDANT		ATTORNEY
Bridging Service lead received by Ascendant
Ascendant sends an Info for Financial Service form to the Attorney.
		The Attorney faxes the complete Info For Financial Service with Supporting Documentation, as detailed on the form back to Ascendant for approval.
Ascendant review the transaction with a view to unlock value, whilst assessing potential risk.
Ascendant completes the Agreement and Annexure A, and fax off to the Attorney for their client to sign.
		Attorney faxes the signed Agreement and Annexure "A" back to Ascendant.
Ascendant accept the Agreement and pay the funds into the Attorney's trust account on behalf of their client.
Ascendant follows up on the transaction until registration.
		Upon registration, the Attorney repays the amount bridged plus fees, out of the proceeds.