Without prejudice to my rights!

To whom this my concern

I am Morne Prinsloo, the owner of Mortgage Plus and in my view and years of expertise in the home loan industry, there is a  definite need for  Originators, to stand together and get the job done!   As dedicated and devoted bond originators in South Africa we would have to work together to make this Industry a successful, professional and a reliable service, to all our consumers in the property market.

For example, I had a client yesterday that I could not help with a new home loan because of the banks not willing to work together with the originator channels and between themselves. In the mean time, the consumer “client” is suffering.

The abovementioned client had made an offer to purchase which he  signed through an  estate agent, The client approached me for professional advice and ask me if I could assist him with his home loan application form. UNFORTUNATELY, I had to show him away because of the existing terms and conditions between the banks and originators. We need to work together and not  against one another.

I have noticed  this every single day for the past 6 years and yet no one is ever willing to stand up and do something about it.

Within the new Consumer Protection Act  it clearly states that the consumer has a choice where and with whom he wanted to do business with and the client should have the option of making sure that he obtained a loan from a Financial Services Provider of his choice

For instance, the property that the abovementioned client put an offer in  on is a PIP (property in possession) property from ABSA bank,  so Nedbank and First National Bank wouldn’t assist him according to their rules and so that left me with Standard bank and Absa only. Standard bank would look at the client,  but because he is an  Absa client, however  they will only assist us with a 90% bond “if we’re lucky”. Now it leaves me with one option only ABSA.

We could then do the loan through Absa,  but only at 70% LTV (loan to value) BUT! If the client went directly to the branch, they would offer them a 100% home loan and pay their transfer cost?

Generally:

ABSA: Bond Originators do not even submit their deals to Absa anymore because of their stringent terms and conditions: 70% loans through originators and 100% directly through a branch.  My question is,  would  you refer the consumer where you know you’re not going to get the deal through “70% Ltv” or would  you rather then go to the opposition for example First National Bank where there’s a much bigger chance to get the deal through at a higher percentage loan?

Standard Bank:  Advertise discounts on legal fees and bigger loans through the media to get direct business and grow their  market share, but what about the thousands of Bond Originators and Estate Agents out there in the market that was always  willing to give you the business in the recent past history?

Nedbank: Everybody took a “knock” during the recession, but it is impossible do business through your bond originating channel, but in the same breath they are financing a Lynnwood Bridge Office Park Development in Pretoria for R 1.2 Billion.

First National Bank: All compliments to FNB,  reason being that everything is above board and across the board with no “hidden Agenda”, so to speak!  What goes for the one goes for the other and there is no difference if the client went to a branch or submitted through a bond originator.

In conclusion

I would welcome it if we all could work together again in order to provide the best service and relevant package to the consumer!

The market is booming! and we need the assistance and back up from OUR  Financial Institutions,  for the consumer’s sake.

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!!

There IS enough business for all! – Article submitted by Mortgage Plus CEO.

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 Plus Bond Originators in South Africa

Mortgage Plus, your first choice for finding the mortgage that’s right for you. We understand every situation is unique and every client has individual needs, so on our website there is no such thing as a “one size fits all” home loan. We work directly with you to find the best home loan possible, allowing you the freedom to focus on finding the perfect home.

Why Mortgage Plus?

Put simply, Mortgage Plus  is your first choice for home loans because our mortgage advisors have the expertise necessary to help you find the right home loan for your specific needs. Whether you are a first time homebuyer, looking to refinance an existing home loan, or looking for financing to buy an investment property, our mortgage advisors are ready to provide you with comprehensive services.

We know the home loan marketplace in South Africa, which means we know how to get you the best deal for your individual needs. From government loan programs to banks to specialist mortgage lenders and more, our services cover the breadth and depth of home loan options available today.

Mortgage Plus will help you through the entire process from start to finish, working closely with you throughout to make certain everything proceeds smoothly and meets your expectations. You will be connected with your own personal home loan specialist who will work not only with you but also for you, acting swiftly and responsibly to ensure your best interests are at the forefront every step of the way.

All you have to do is click here ” www.mortgagepluscc.co.za “

Or

Call us on 011.327.4489 to find out more about how Mortgage Plus can help you achieve the dream of home ownership.

No stress. No worries. No costs.