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A company might be issued with a Notice to Complete for a variety of reasons – but the most common reason is that a buyer (purchaser) has yet to complete settlement for a property transaction by the settlement date, and the seller (vendor) must use this legal instrument to ensure they finish the transaction – or face some dire consequences.

Though you may feel anxious about a potentially massive deal falling though, there are ways to work through a Notice to Complete using unsecured funding options, which we’ll explain in detail later.

First, we’ll explain the intricacies of a Notice to Complete and what that means if you receive one.

What is a Notice to Complete?

A Notice to Complete is a legal document issued to a purchaser when a vendor has not received the funds to settle the purchase contract of a property by the settlement date. The purchaser typically has ten days to complete the transaction. After ten days, the purchaser is vulnerable to legal action; the vendor has every right to sue for breach of contract.

A Notice to Complete can complicate the buying situation and lead to some dire financial and legal consequences. This can be devastating to businesses that operate in the property development, real estate, or construction industry.

If the purchaser fails to fulfil the Notice to Complete, they will forfeit their deposit. The vendor may also option to sue the purchaser for any losses or differences in the sale price. You could also be on the hook for legal fees and other penalties.

Some of the common reasons for receiving a Notice to Complete

Just before Christmas is a common time for a Notice to Complete to be issued because finance cannot be approved and settled in time at many lenders.  

As the holiday season approaches, more and more lenders and bank staff take their annual leave. This leads to processing delays at your chosen financial institution. Though the number of applications may be steady, the manpower required decreases.

If you are waiting for your bank or lender to release the funds, hoping for the best within ten days could be a losing strategy. 

If you ever receive a Notice to Complete, you need to take immediate action. 

When it comes to urgent property transaction or development finance you’ll often need to find a funding solution that provides a facility for low doc loans or loans with fast approval.

How to raise funds using unsecured business finance

Unsecured business finance is one method to settle the contract – and funds can be released in under 24 hours if your business is approved.

Using unsecured business finance as a bridging loan; in which you use the funds to pay the vendor and use your eventual financial institution funds to pay off the unsecured business finance loan. In most cases these are low doc business loans that do not require onerous compliance and documentation.

There is a common misconception that unsecured business loans have limited loan amounts and restrictive terms. In fact, a business can borrow up to $2 million and be eligible for early payment discounts if they use a reputable expert who knows where to find these products.

How to raise funds using securities

If you have unencumbered or wholly owned assets, you can raise capital by borrowing against them with asset finance. 

This could be other property, large-scale industrial machinery, fleets of vehicles, and other manufacturing or retail assets. There are many asset categories that can be used to raise bridging finance.

You could leverage your property with a caveat loan or through fast private lending using a first or second mortgage. These are special short term property loans for bridging finance with typically shorter loan terms.

Raising funds using a specialist lender

To rectify a Notice to Complete you can rely on specialist lenders that can help provide fast approvals and tailored bridging finance solutions for your business to ensure you can fulfill the Notice to Complete and close the deal with a minimum of fuss.

Specialist lenders may raise capital from numerous different sources including the scenarios described above. Using their knowledge and experience, they can have settlement completed within a matter of days – not the weeks or months you may be facing with a traditional business bank or conforming financial institution.

What you need to know about bridging finance

Some bridging finance options are short-term loans that may have higher than average interest rates. That said, some unsecured business finance options also incorporate early payment discounts to mitigate any potential losses from high interest repayments. Specialist lenders may be able to negotiate more favourable terms due to the special nature of your request.

How to apply for urgent property finance

If you need urgent funds to ensure you aren’t liable for breach of vendor contract or the possibility of losing your deposit, contact the team at We have a range of solutions that can help settle the Notice to Complete and ensure your deal gets completed. 

Start a conversation today by sending us a quick enquiry here. Don’t risk losing your deal!

Disclaimer: This article is not legal, financial or personal advice and should not be relied upon as such.  You should always obtain professional advice for your specific circumstances.

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