With house prices firmly back on an upward trend and banks beginning to relax their lending criteria for home loans, consumers are increasingly looking to get back onto the housing ladder.

As the property market becomes more competitive, however, it is vital for consumers to make sure they are well prepared and can act quickly when an offer is accepted.

Craig Deats – has the following advice for potential homebuyers when applying for a home loan to ensure they have the ultimate opportunity for success on their bond applications.

1. Make sure you are aware of all the costs involved in buying a home. In addition to arranging a home loan and paying a deposit there are a number of other costs involved including legal costs, transfer duty, bond registration fee and bank charges. These will need to be paid in order to complete the process.

2. It is advisable to have a clean credit record before applying for a home loan. As a result of the National Credit Act and current market conditions, banks have tightened their lending criteria and a negative credit record may impact the result of your home loan application.

3. Provide your bank or bond originator upfront with all required information and documentation requested. Each bank has their own set of criteria so ensure that you have met the requirements of each lender.

4. Make use of a reputable bond originator, who can assist you by facilitating bond negotiations with all major lenders in one simple process from prequalification to registration, with less hassle and minimal paperwork. They also provide regular feedback of progress on your application.- www.mortgagepluscc.co.za 

5. Shop around with multiple lenders. According to the latest statistics, 19.8% of applications in January 2010 that were declined by one lender were approved by another, indicating that it is important to approach multiple lenders to ensure a positive outcome on your home loan. Shopping around also ensures that you get the best rate on offer.

CONTACT US
For more assistance with regards to Applying for Home Loan Finance .
Email: morne@mortgagepluscc.co.za
Ph: 011.327.4489
or Complete This Online Form

Absa Home Loans
Mortgage Plus can help you in to get the best Absa bond for your budget and needs. You do not have to lft a finger as we will organize with Absa for the home loan option that will suit you the best.

Apply For a ABSA Home Loan Today!

Absa offers a variety of options when it comes to home loans:
Absa home loan
First time Absa home loan
My home
Building Loan
Bridging finance

Absa Home Loan
Absa’s core home loan product that can be loaded with options and value-adds to suit your lifestyle.

First-time Home Loan
A home loan product for first-time home buyers – which offers a unique payment structure that’ll allow you to pay the additional amount you’ll receive off over a period of your choice.

MyHome
Absa’s MyHome loan is a home loan package structured for home buyers who earn a single of joint monthly income of between R1 500 and R7 500.

Building Loan
The Absa Building Loan finances the construction of residential buildings and caters for the purchase of the stand where needed.

Bridging Finance
Absa’s Bridging Finance facility allows you access to a portion of your profit from the selling of your old home. You can even use this facility if you’re taking out a second bond.

Home Loan Value-Adds
Absa boasts a number of value-adding products and services which will assist in creating the perfect Absa home loan solution for you.

CONTACT US
For more assistance with regards to Applying for Home Loan Finance .
Email: morne@mortgagepluscc.co.za
Ph: 011.327.4489
or Complete This Online Form