Fortified Capital Plus

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There are a vast number of Community Schemes in South Africa that struggle to operate functionally as a result of non-paying unit owners. The non-payment of levies results in a shortfall in the operational budget which basically means that paying unit owners either end up subsidising non-paying unit owners’ levy amounts or the Community Scheme goes without essential services to the common property. This often results in unit owners’ property assets not being maintained and a general decay within the entire Community Scheme, causing a drop in the value of properties.

The Fortified Capital Plus lending solution is utilised to fund Community Schemes with levy debtor problems, where a portion of unit owners have not paid their levies, and / or in respect of Levy Debts subrogated in terms of Levy Guarantee Insurance Policies.

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The Fortified Capital Plus lending solution is ideal for private individuals, corporate entities and trusts who are risk averse and do not require monthly interest income but are looking to grow their returns through compounding of interest.

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*Interest rates are quoted on an annual basis and compounded monthly. Rates are subject to legislative and industry limits, with a maximum of 20% per annum, except where product-specific terms (such as Insured Capital) apply at a lower rate.

**Depending on the product type, solutions may include trade credit insurance protection, amortising repayment profiles, or repayments that follow an “as and when collected” basis, meaning that repayments occur progressively as the Community Scheme recovers amounts from unit owners and as legal recoveries are realised, rather than according to a fixed schedule.

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