No Deposit Required for First Time Home Buyers in South Africa

Mortgage Plus Bond Originators, has recently finalized agreements with the major financial institutions in South Africa which would assist lower and middle income groups in obtaining housing loans (Home Loan). The unique concept of these housing loans is that there would be no deposit required.

To apply for your 104% home loan you will be required in supplying us with the following supporting documentation:

1. Proof of income: 3 Months Payslips / 6 Months for commission earners
2. Latest 3 months personal bank statements / 6 months for  commission earners (No Internet Statements)
3. Copy of your ID document. (For both applicants if applicable)
4. Copy of Marriage Certificate or ANC Contract. (If applicable)
5. Copy of the Purchase Agreement.(Offer to Purchase)
6. Utility Bill (Water and electricity statement)

The following terms and conditions will apply:

1. Applicants must be first time buyers
2. Monthly income cannot exceed R 15733.00 pm for single / both applicants together
3. Clean credit records
4. No return debits on bank accounts
5. Income must reflect in bank account
6. Minimum Employment – 12 months
7. Maximum loan: R 500 000

Mortgage Plus Bond Originators has a good relationships with the top banks, and is able to expedite the application, approval and registration process due to our knowledge of and integration with the banks systems.

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

What to Avoid when Buying a Home

When buying a home, there are many factors to take into consideration and many factors to avoid. It can have very costly consequences if the process not handled properly.

Many people are so hard up so sell their homes that they will skip vital parts of the process to make a quick sale. This can be to the benefit of the seller and the seller only. When sellers receive competing offers on their home and you really want the house, it might happen that you offer way too much for what the house is worth.

If the seller or the real estate agent wants you to skip the home inspection, insist on it or find another agent. It is not worth buying a house and spending twice what you saved in fixing the house. Home inspection is a vital part of home buying and should never be overlooked, even when others encourage you to skip it.

Verbal agreements should also be avoided at all costs. It is impossible to verify a verbal agreement and no matter how much you think you trust the seller or the real estate agent, getting everything in writing can save you a lot of money. Both parties must sign all agreements and all details should be recorded. It is a good idea to verify all the listing info at the start of the purchase. If this info is incorrect, take time to check for other inconsistencies.

Doing your homework before purchasing a home is very important. You should know exactly how the process works and what you are entitled to. We would all love to believe that all sellers are honest and fair, but, unfortunately, this is not the case. Make sure you are cautious and always be on the lookout for pitfalls. It happens too often that innocent buyers are fooled by sellers and end up spending a lot more money than they should have.

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