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

Bond Originators

The term bond originators has more than likely appeared time and time again in conjunction with the term mortgage brokers but who they are and what they can do might still be unclear. bond originators act as personal consultants when it comes to getting loans. Their job is to keep you advised during each stage of getting a loan so that you incur interest rates which are the most lucrative. They are responsible for keeping track of each of the deals which enables you as the client to maintain the best deal from the beginning stages of applying for loans all the way to the stages of procuring the loan. Overall, the position of bond originators is to ensure that you feel at ease when applying for and receiving your loan. One of the major roles of bond originators is to ensure that you are met with the most lucrative loan option which also provides the best interest rates. Without a thorough knowledge of the ins and outs of the banking sector, grabbing the right opportunities will not be easy. This is where the bond originators come in to play.

They mentor you instead of just doing the work for you. This means that not only do you get the best the business world has to offer, but that you also learn about the ways of the banking sector at the same time. Mentoring each of their clients, the bond originators alert you when you begin to head off track and direct you where you should be going, but in the end allow you to make the final decision. You are not charged for their work, but rather, they receive a commission from the bank which they recommend. As experts in the banking field, bond originators offering free loan advice puts you in the best possible position and allows you to make the final decision appropriate to your needs. The benefits of using bond originators include the fact that it is free. By ensuring that you get the best deal, you are saved thousands of Rands. Instead of visiting the bank when you want to apply for a home loan, you can get quick results by allowing them to visit the banks for you on a regular basis, also taking care of any follow ups for you.

Having them on your side means they will pressure the banks for you. Their expert advice makes sure that you understand each of the available products and what deals of the products offers. Lastly among the benefits of using bond originators is the lack of paperwork. They handle the paperwork for you making it easy. By securing the finances necessary to purchase a property, they simultaneously submit your application to lenders such as FNB, Standard Bank, ABSA, and NEDBANK. Overall, they are there to cut down the time and the money spent trying to secure home loans. You can receive a quick assessment of your qualifications and which banks are likely to offer you home loans with which to purchase your property.

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