Old Mutual does not advertise a standalone bridging loan, so there are no published Old Mutual bridging loans requirements to meet. The only place Old Mutual mentions bridging finance is its Investment Backed Loan, which it describes as suited to businesses that need bridging finance to cover immediate costs.
If you were looking for an advance against a pension payout or a property sale, Old Mutual does not list a product for that. What it does offer is the secured Investment Backed Loan and an unsecured personal loan, both covered below.
Eligibility Requirements at a Glance
The Investment Backed Loan is offered through Old Mutual Wealth to individuals and entities with a Private Clients portfolio. It is secured by a cession of qualifying investments, so you need investments to put up as security. Read the Old Mutual Wealth lending page and the Investment Backed Loan brochure for the detail.
Old Mutual’s unsecured personal loan is a different product with its own criteria. It is open to South African citizens aged 18 or older, and businesses do not qualify.
Income and Affordability Requirements
For the Investment Backed Loan, the brochure sets the amounts by borrower type:
- Minimum loan: R200 000 for individuals, R400 000 for entities
- Minimum investment as security: R400 000 for individuals, R1 000 000 for entities
- Maximum loan: R20 000 000, with a maximum client limit of R50 000 000
The unsecured personal loan runs from R2 000 to R250 000 over 3 to 72 months, and you must earn at least R2 500 a month. Neither product is an advance against money you are still waiting to receive.
Credit and Financial Requirements
The Investment Backed Loan has a 12-month term, with the option to roll it over when it ends, subject to credit approval. A credit assessment is part of the application, and if the value of your investments falls, a margin call must be remedied within three business days.
For individuals, the brochure lists an initiation fee of R1 000 and a monthly fee of R50, both including VAT. For entities the fees depend on how the loan is structured. The brochure does not state an interest rate, so ask Old Mutual for the rate before you commit.
Documents and Verification Required
The brochure does not list a document checklist. The application involves a form, supporting documents, a credit assessment, and signed agreements together with a cession over your investments. Your planner or Private Clients contact will tell you exactly which documents are needed.
For the unsecured personal loan, Old Mutual asks for your ID document, your latest payslip and three months’ bank statements not older than seven days. See our guide to Old Mutual loan requirements.
How to Apply and Improve Approval Readiness
For the Investment Backed Loan, apply through your Old Mutual Private Clients planner. The steps in the brochure are:
- You receive and complete an application form and supply the required documents.
- Old Mutual carries out a credit assessment.
- You sign the loan agreements and the cession over your investments.
- The loan is paid out once everything is in place.
For a smaller or unsecured amount, you can apply for a personal loan online, in a branch, by WhatsApp on 0860 933 333, or by phone on 0860 000 866. Details are on the personal loans page. Old Mutual says approved loans are paid out within 24 hours of approval, though times can vary.
Frequently Asked Questions
Does Old Mutual offer bridging loans?
Not as a standalone product. The only official mention of bridging finance is as a use of the Investment Backed Loan for businesses that need to cover immediate costs.
Can I get an Old Mutual loan against a pension payout or property sale?
Old Mutual does not list a product for that. Ask your pension fund administrator, your conveyancing attorney or a registered credit provider what is available, and take financial advice before drawing on retirement savings.
What is the smallest Investment Backed Loan?
R200 000 for individuals and R400 000 for entities, secured by investments of at least R400 000 and R1 000 000 respectively.
Is a credit check done?
Yes. A credit assessment is part of the Investment Backed Loan application, and a roll-over after the 12-month term is subject to credit approval. The personal loan application also asks for your consent to a credit check.
Old Mutual’s products, fees and terms change, so confirm the current position with Old Mutual Wealth or Old Mutual Finance before you apply.
See loan requirements and browse all finance and funding requirements.