Save on your Bond Costs – here’s how:
Bond Originators have helped to create a homeloans market in which banks and other SA Mortgage providers are forced to compete for your business.
This competition among the banks has meant that homeloans are now easier to secure and it has contributed to the dramatic drop in mortgage costs in South Africa.
Banks are now more likely to offer you a below prime interest rate on your bond â€“ often as much as 2.5% below prime.
But although the interest rate charged on your mortgage bond could mean a difference of R70 000 over the term of your loan, homeowners are now also being offered cash back on their homeloans.
Bond Registration costs could come to about R7 000 on an average sized home loan. Mortgage Originators are often willing to wave these costs, or totally refund them once the bond is registered.