How can we help you – Property Finance – Mortgages?

Buying a home is admin-intensive and we will make sure you know exactly what documents are required for your new home loan or first time buyer loan and when to make the deal happen for you.

What assessment factors do the banks look at?

Affordability, credit worthiness, and property value come into play when we assess your application.

1. Affordability
At this stage, the bank will undertake a comprehensive assessment to determine if the loan you apply for is affordable to you. Your credit history will be put under the spotlight and details of your current credit facilities will be sourced from a credit bureau. This way we can independently verify the instalment amounts for credit cards, vehicle repayments, cellphone contracts and other facilities in your name. It’s a step that has your best interests at heart. We do what we can to ensure you only take on debt you can afford. Never be untruthful about your income or expenditure as it can lead to your application being rejected.

2. Credit worthiness
A good credit history counts in your favour when applying for your home loan. Credit bureaus do not only list defaults or judgments against you but also keep record of good conduct on your accounts. If your conduct shows you to be a good risk client, you may be offered a preferential interest rate. This can save you a substantial amount of money over the life of your home loan. Your application could be rejected if you are considered a high risk client based on your credit history.

3. Property valuation
It is the norm for the bank to conduct a valuation on the home you intend to purchase. This is to make sure the property offers sufficient security for the loan you request and is of the type the bank normally finances. The bank may require you to pay a deposit on certain properties.

On approval of your home loan application, we will contact you to discuss the most favourable rate received from the banks as well as other important details and the terms of the loan. At this stage, I will advise your estate agent that the purchase of the property has been concluded and I will forward the necessary documentation to the attorneys to proceed with the registration of your bond and transfer of the property into your name.  The attorneys will contact you to set up an appointment for the signing of these documents.

If you would like to speak to a Professional Mortgage Specialist about your lending requirements, please phone Mortgage Plus Bond Originators on:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Mortgage Plus Bond Originators – It’s all about Keeping it Simple

Mortgage Plus offers the following services:

• We evaluate your financial situation and give you professional advice on how best to finance your new home. Mortgage Plus offers you a free affordability assessment.

• We pre-qualify you so that you know how much you can spend before you start looking.

• We outline all the costs of buying a home so you do not get any surprises down the line. This includes all the costs involved in buying a home, including up-front payments, monthly repayments and any other costs that may occur as a part of the property transaction. This is important as the National Credit Act wants to ensure you do not overspend and we can assist with a basic guideline.

• We explain your home loan options from the major banks.

• We negotiate with the top banks on your behalf and present you with a shortlist of options.

• We liaise with your chosen bank.

• We do all the paperwork right through to the registration of your bond and beyond.

• We explain the stages of buying your home, pointing out the responsibilities of everyone involved, when money is due and the potential pitfalls along the way.

• We are on hand to assist you throughout the process until the day you move in.

Mortgage Plus has relationships with all the major banks in South Africa like Standard Bank, ABSA bank, First National Bank, Nedbank as well as niche banks for example SA Home Loans, Mercantile Bank, Bank of Athens,  Rand Merchant Bank, Investec and BoE Private Bank.

So why go anywhere else if you got all these options available to YOU our client.

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