How can we help you – Property Finance – Mortgages?

Buying a home is admin-intensive and we will make sure you know exactly what documents are required for your new home loan or first time buyer loan and when to make the deal happen for you.

What assessment factors do the banks look at?

Affordability, credit worthiness, and property value come into play when we assess your application.

1. Affordability
At this stage, the bank will undertake a comprehensive assessment to determine if the loan you apply for is affordable to you. Your credit history will be put under the spotlight and details of your current credit facilities will be sourced from a credit bureau. This way we can independently verify the instalment amounts for credit cards, vehicle repayments, cellphone contracts and other facilities in your name. It’s a step that has your best interests at heart. We do what we can to ensure you only take on debt you can afford. Never be untruthful about your income or expenditure as it can lead to your application being rejected.

2. Credit worthiness
A good credit history counts in your favour when applying for your home loan. Credit bureaus do not only list defaults or judgments against you but also keep record of good conduct on your accounts. If your conduct shows you to be a good risk client, you may be offered a preferential interest rate. This can save you a substantial amount of money over the life of your home loan. Your application could be rejected if you are considered a high risk client based on your credit history.

3. Property valuation
It is the norm for the bank to conduct a valuation on the home you intend to purchase. This is to make sure the property offers sufficient security for the loan you request and is of the type the bank normally finances. The bank may require you to pay a deposit on certain properties.

On approval of your home loan application, we will contact you to discuss the most favourable rate received from the banks as well as other important details and the terms of the loan. At this stage, I will advise your estate agent that the purchase of the property has been concluded and I will forward the necessary documentation to the attorneys to proceed with the registration of your bond and transfer of the property into your name.  The attorneys will contact you to set up an appointment for the signing of these documents.

If you would like to speak to a Professional Mortgage Specialist about your lending requirements, please phone Mortgage Plus Bond Originators on:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Nedbank’s R24m injection in Roodepoort

A new affordable housing development will offer a range of housing packages to buyers who can spend between R375k and R600k on a home.

Nedbank is to finance and affordable housing project in Roodepoort where 230 residential stands in Groblerpark Extension 71 have been earmarked for development. The funding is worth R24,5-m.

The civil engineering works at the site were completed last year and the electrical reticulation is currently being installed. The funding was provided to Johannesburg Financial Securities (JFS), responsible for the development.

JFS has allocated stands to a number of developers who are offering members of the public housing packages starting at R375k for a 40 sqm house, including the stand and all costs, up to a 90 sqm house costing around R600k

The final price depends on the specifications and finishes selected by the buyers.

Groblerpark Extension 71 is located close to a number of schools and is about ten minutes away from the West Gate Shopping Centre.

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za