Home Loans News
SA Mortgage Originators are saving South Africans R100 million per month, thatâ€™s according to Jan le Roux, chairman of BetterBond’s holding company the PA Group.
Le Roux explains that these huge savings are mostly due to the fact that clients are able to select the best suited home loan product at the lowest interest rate. Mortgage Originators shop around of the best rate and for a product which best suits you individual needs.
Although you could visit all the major banks yourself, it is unlikely at youâ€™ll get an approval faster or a better interest rate than if you had used a Mortgage Originator.
â€œA bank knows today that every applicant has the capacity through a mortgage originatorâ€™s services to compare rates and other factors simultaneously so if they want the business they have to come in hard and fast with their best rate,â€ says Le Roux.
Le Roux said the more than R100 million monthly saving was based on the R10 billion a month that banks were granting in new home loans every month. He also noted that the servicing and processing of home loan applications and end user service had improved substantially since being taken over by mortgage originators, who now accounted for about 60 percent of all new home loans.