The leading banks usually offer various types of loans. At Mortgage Plus Bond Originators we will help you choose the one that best suits your needs and help you through the application process.

The following are brief descriptions of the various types of loans available.

ORDINARY LOANS

A loan granted to an applicant who uses the proceeds of a loan to purchase /acquire immovable property on which there are existing buildings and other fixtures or which is vacant land.

ORDINARY LOANS: FURTHER ADVANCE

Where the owner of fixed property that is already bonded as security for an existing loan requires further finance, the bank will grant a further advance subject to the value of the bonded property being adequate security for the increased loan amount. The client is normally allowed to use the amount of the further advance extended according to his own discretion.

BUILDING LOANS

A loan granted to an applicant to erect a building on a vacant stand (client applies for a full building package).

The loan is granted subject to a mortgage bond being registered in favour of the bank. After registration of the bond, the bank will advance monies to the client or his contractor as the building work is progressed (payment of funds is based on progress, e.g. land, foundations, roof height and finishes)

BUILDING LOANS: FURTHER ADVANCE

Where the owner of the fixed property that is already bonded as security for an existing loan requires finance to erect buildings, effect alterations, improvements or additions to the buildings already established on the immovable property. If the future value of the property when complete is adequate, the bank will be able to grant the further advance. The bank may advance the full amount immediately (depending on the security available against the mortgage bond), advance the amount as progress is made with the building operations, or may retain a portion subject to certain suspensive conditions. Where the margin between the loan account balance and the mortgage bond allows for such an advance to be made, the bank may do so. If the margin is insufficient, an additional mortgage bond will have to be registered.

ASSET-BACKED FUNDING

Mortgage Plus Commercial fills a void in the market for clients who require funding for working capital, need to reduce their bank exposure or need to meet other short term requirements. This product has been designed to meet the requirements of clients who are asset-rich but in need of short-term liquidity. Mortgage Plus Commercial does not lend against vacant land, but rather against residential, office, industrial and retail properties.

Minimum Requirements:

The borrower must be a juristic person in terms of the National Credit Act

• Maximum transaction value not to exceed 60% of valuation
• Valuation of property to be done at client’s expense
• Minimum advance of R 1 500 000 (no maximum)
• A first bond is to be registered over the property
• Maximum loan term of 12 months

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

Mortgage Origination | Home Loan Finance Experts

The purpose of Mortgage Plus, as a mortgage originator, is to assist you with the application process for your home loan to one or more of the Financial Institutions giving you peace of mind and saving you time. The services extended to you by Mortgage Plus are free of charge and we pride ourselves in being your ‘one-stop’ financial services partner. We receive a fee from the bank as we in essence handle the application process on their behalf.
I would like to invite you to visit our website at www.mortgagepluscc.co.za to obtain more information on matters relating to your mortgage such as the calculators that can assist you to calculate the different costs relating to registration of your bond and property.

18 reasons why homebuyers should use Mortgage Plus Bond Originators (0861 1111 93)

1. Secure approvals: better chance of approval by submitting to multiple lenders
2. Get the system to work for you: take advantage of the fact that each bank has different credit criteria, deposit requirements, documentation requirements, interest rates and turn-around times
3. Expert positioning: prepare, motivate, and package the application for the best chance of approval
4. Best interest rates: banks compete for every loan application ensuring the best deal for you
5. Simultaneous submission: direct interface to lenders systems allowing simultaneous submission of applications to multiple lenders
6. No cost: it is a free service to the homebuyer
7. No obligation: no obligation to accept any loan sourced
8. Expertise: home finance experts have intimate knowledge of the various banks’ products, credit criteria, documentation requirements, and interest rates
9. Problem escalation: dedicated senior personnel escalate any problem applications ensuring a better chance of approval
10. Hassle free: one generic application form for all lenders
11. Cost savings: advice on the best way to structure the loan to reduce the total cost
12. Convenient: originator helps you complete the application form and do all the legwork for you
13. Faster approvals: dedicated personnel guide the application quickly through the bank’s approval process, actively chasing up progress
14. Independent advice: most appropriate home loan options from all lenders
15. Dedicated communication: one point of regular feedback on the application status for all lenders
16. Best service: professional and personalised service face-to-face, telephonic, or online
17. Commitment: home finance experts are committed to securing your loan
18. Homebuyers all agree: over 70% of all new home loans are secured using mortgage originators

AT MORTGAGE PLUS WE ARE GEARED TO CONTINUE OUR EXCELLENT WORKING RELATIONSHIPS WITH OUR CLIENTS AND THE BANKS COULD ASSIST AND ENHANCE THIS VERY IMPORTANT INVESTMENT CHOICE ANY CLIENT WOULD MAKE IN HIS LIFETIME!

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