The home loan / Bond Finance market in South Africa has, over the past few years, become very competitive. Not only are the number of mortgage providers in South Africa increasing, but competition among the four major bond providers has really started to heat up.
One reason for this is because bond originators have finally arrived in South Africa. Bond origination has existed for many years overseas and it’s partly because of bond originators that competing banks have been forced to offer better service and better mortgage products.
Through its unique relationship with banks a SA Mortgage Originator is able to apply to multiple banks and get your application approved faster.
Benefits of using a Bond Originator:
1. You don’t need to go through the application process with every bank. The originator will collect all the necessary documentation and setup your application to ensure the process is a smooth one.
2. You only need to complete one application, which will be submitted to different banks. After your approvals are received from the different banks its up to you to decide which bank your wish to go with.
3. Better rates: Because we have a strong relationship with all the major banks we are able to negotiate a lower rate on your bond – which will save you thousands over the term of the home loan.
4. Free Service: Probably the best feature of the bond origination industry is that the service offered is totally free. The bank pays the originator and these costs are not passed on to the client.
Property Loans is one of the top mortgage originators in South Africa. They are also able to offer you some very nice bonuses and discounts, such as:
- Discounted bond fees
- Really Fast Approvals
- and best of all, this service is completely free of charge.
Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.
Complete this short form online
Hi
How does the government help the low income people with the HOME LOAN for first time buyers.As in this year he made it public that the banks will help and for how much and how does this work as well.As first time home buyers we should not be kept in the DARK with the Banks.Can you please Advice if the low income stand a chance or not? Oh LET US NO ABOUT THE PAYMENTS HOW DOES THAT WORK TO.THANKS.
I signed a offer to purchase and one of the conditions stated that it is valid on condition that the seller get another house to buy and a loan from the bank.Since there is no tme limit can we ask them to ammend the agreement or can i cancel it because say for example she gets a house in 1 year does it means i have to wait a whole year.
Hi,
Me and my husband has has alredy got a Home loam with STD bANK BUT THEY ONLY APPROVED 90% FOR US AND NOW WE ARE STRUGGLING TO GET THE 10% , CAN YOU PLEASE HELP US.
fOR MO INFO YOU CAN E-MAIL ME
tHANKS
Hi BOSA
I just read that one can negotiate with the bank to give them a bond at a prime minus rate. As a first time buyer having a very good credit record (car, etc) is it possible to negotiate for such a rate?
Hi there, hope u will be able to assist my partner and i we have signed a offer to purchase, but my problem is that they need is to pay them a deposit upfront and we were told that there is no a bank that gives 100% loan for a house.is that realy true or these people just want to crook us. please advise
We applied for a homeloan and meet all the credit act requirements. We are approved for only 90% of our loan we submitted why not better? We are first time buyers. And have no other debt.
Hi Teajea. If you like, we can take a closer look at your application and see if we can get a better deal for you. Please complete our short application form online.
Could you please advise me on the following…
Can one apply for a bond on a members statement, even though it is registered on the trust’s name?
PLEASE ADVISE AS TO HOW THE BOND INITIATION FEE IS CALCULATED. I HAVE JUST BEEN QUOTED R5700.00 ON A NEW BOND OF R342000.00. I ALREADY HAVE AN EXSISTING BOND WITH THE SAME BANK WHICH IS NEARLY PAID UP. MY CURRECT INTEREST RATE IS 9.25% ON MY EXISTING BOND AND 10.10% ON MY NEW BOND…..PLEASE ADVISE DESPERATE!!!
I am a first time buyer and would like to know what’s the best interest rate that i would qualify for and how do i go about and fight for a lower interest rate
Hi Chetan,
We usually begin the process of securing homeloans for our clients by requesting an Interest Rate Quotation from the various banks.
After your application is submitted and we have received favourable responses, we are able to negotiate the rates between the participating lenders.
Bond originators can be a great “tool” when you are buying property, but beware of the dishonest ones – always phone the banks a few days after you’ve given your application to a bond originator to make sure they have shopped around. I used a bond originator with the last property I bought, and was told that only one bank “approved” my application – when I phoned my own bank to find out why they “declined” it, they never received it – nor did other banks.
People have told me that ABSA are requiring up to date building plans to be shown when applying for a bond. Can you tell me any more about this? Are other banks doing this, or perhaps planning to do this.
Hi there, I’m already a registered bond owner. i’m already on a 30 year payback period with ABSA. i would like to find out if there is any other way i can reduce my bond payments. i bought the house for R640 000 and (don’t remember what my lending rate/percentage was). with the latest rate hike, i’m now paying close to R7000 for my bond and i feel it’s a bit much. please help!
Reply:
Hi Tsholofelo,
As you are currently on a 30year term your best option would be to renegotiate your interest rate. The smallest difference will save you thousands over the term of your home loan.
I am currently in the process of applying for business finance. My business advisor gave a number of options which included me seeing a bond originator.
How do I go about completing an application through a bond originator?
Reply:
Hi Omar,
As a bond originator we are able to assist you in all things related to home finance. If you wish you can apply for a further bond on your existing property – this can then be used to finance your business.
I would like to know how does one become or study to become a bond Originator?
What qualification are required and when and where can one attend courses?