Company News: PropertyLoans.co.za

A good understanding for the NCA is helping our clients secure their bond approvals While most of the Banks and other originators are experiencing a dramatic increase in Declined Bond applications since the implementation of the New Credit Act, PropertyLoans.co.za is actually experiencing an increase in Bond Approvals. We attribute this increase in bond approvals to the fact that our clients are dealing with Mortgage Consultants who have a good understanding of what the Banks need in order to approve …

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FNB home loans acquires Transnet mortgage book

South African Home Loan News: Transnet announced recently that they have sold they mortgage book to FNB Home Loans. The deal which has yet to be approved by the Competition Commission and the Competition Tribunal was effective from 26 March 2007. The Transnet mortgage book included about 20 000 Transnet employees with an average Bond of about R130 000 each. These home loans will now be serviced about FNB home loans. FNB bought the Transnet mortgage book for R1.4 billion …

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National Credit Act Kicks Off

SA HomeLoan News: New National Credit Act The New National Credit Act comes into effect today [1 June 2007] and many Mortgage Bond experts are waiting to see what effect this will have on Home Loans in South Africa and the SA Property Market as a whole. From a homeloan applicant’s point of view the major difference the new National Credit Act will have on your Mortgage application is that each bank will have to make 100% sure that you …

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