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ENSURING FINANCIAL SECURITY
OUR STORY
TEKE is here to be a force for change in the bridging finance industry. TEKE has been created out of the desire
to offer more than just financial solutions, but to offer tailored services and finances that suit your unique needs. Each day we aim to create efficient, innovative & transparent solutions that help our clients’ access the money that all too often finds itself locked in a property deal.
We strive to ensure your financial security in all the moments between the moves.
OUR SERVICES
Bridging finance requires agility if the plans, journeys and ambitions you have for your next move are to be successful. We are fanatical about delivering this kind of service and do our absolute best to ensure pay-out within 24 hours.
ABOUT TEKE
TEKE is a privately owned, expert provider of bridging finance solutions and short term loans built around any and all property matters.
Governed by our 4 E’s, our philosophy is to ensure both internally and
externally we operate with these not only in mind, but embedded in heart:
ENSURING FINANCIAL SECURITY
SERVICES
PROPERTY SELLER FINANCE
If you have sold your property and have money due to you on registration that you need advanced to you, TEKE can assist with a portion of the money upfront to fill in the spaces between.
Why bridging finance?
We know the period between sale and transfer can be a financially constricted time. That’s where bridging finance becomes the best solution to assist. A quick and easy short-term finance solution can be arranged that can alleviate the stress and pressure of any other matters that require funds you may not currently have access too.
AGENT COMMISSION FINANCE
After having made a successful sale or your property owner, often there is still
commission on registration, TEKE is able to advance a portion of your commission upfront. This service is available to residential agents and commercial brokers.
How do I apply and how long does it take?
Please drop us an email: info@teke.co.za and we will send you a form for you to please complete and return. One of our friendly consultants will contact you to assist with submitting your application if necessary.
TEKE will assess the deal and once we have an undertaking from the transferring
attorney we will be ready for payment. We strive to pay out as quickly as possible and will keep you informed of when payment will be made.
The key criteria for approval is based on whether the purchase price is secure and the suspensive conditions have been met.
BOND APPLICANT FINANCE
If you’re a property owner and have been granted a new, further or switch bond and need access to a portion of your funds quickly, TEKE could advance a portion before registration. Once the bank has approved your new, further or switch bond they will instruct an attorney to register this bond over the property in the deeds office. This typically takes about 30 days before you can access your funds from the bond.
How do I apply and how long does it take?
TEKE will send an application form to your attorney. Once this form is completed by your attorney, it needs to be signed by you.
Please contact us at info@teke.co.za to request a form that can either be sent
directly to your attorney, or to you to forward on.
TEKE will assess the transaction and depending on the value will need to view
certain transaction documents. Once the deal is approved, payment can be made.
PROPERTY-BACKED FINANCE
A short term loan (approximately 6 months) is secured by unencumbered assets (typically immovable property). Applying normal lending criteria, banks would often not be able to assist you as you may not be able to make the necessary monthly repayments. You may only be able to make one full repayment when an existing deal concludes. This product was structured for full repayment of capital and
interest at the end of the said term.
1. Cash flow is tight but you are awaiting a pay-out when an existing deal concludes
2. This existing deal should conclude within 6 months
3. You can provide unencumbered assets as security
Complete the online equiry form found here: info@teke.co.za
The minimum requirements are:
• The Borrower must be a Juristic Person in terms of the National Credit Act.
• Maximum transaction value not to exceed 40% of the property value.
• Valuation of property to be done at clients’ expense.
• Satisfactory exit strategy / repayment mechanism.
• Minimum advance of R500 000 (no maximum).
• Assessment of Assets and Liabilities of Borrower and/or Sureties.
• SARS affairs in order.
Each deal is unique and so pricing will vary depending on the nature of the deal.
No monthly repayments required because fees and capital is repaid together
at the end of the 6 months.
F A Q
What is bridging finance?
Bridging finance is short term finance you may need because money is locked in a property deal. The repayment is generally made in full when the property deal concludes.
For example if you are a property seller and have money due to you when the property transfers from your name to your buyer’s name, TEKE can assist with an advance on this money i.e: bridging finance. The conveyancing process to register the transfer of a property in the deeds office typically takes 60 to 90 days from the date the sale agreement is signed to when the sale is registered. Real estate agents or commercial brokers may also need bridging finance on their commission because of the time required to transfer property.
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