Many people are giving high regard to properties because of how they can be helpful with their financial issues. As the saying goes, you will never know when crisis may hit you so it’s better to have an investment in the form of real estate as a backup. Mortgage is a tool in investing on a home so the assistance of a mortgage broker is also needed.

The real estate sector has lots of experts such as mortgage brokers. The main task of these experts is to provide assistance in getting mortgage from lenders. Technically, they will serve as mediator between the company and the borrower in processing this loan. If you also need to invest on properties, it’s a must for you to hire the services of reliable brokers.

Looking online, you will see that the number of brokers found in the real estate market is steadily increasing. The good news for property investors is that they these experts have been trained after finishing their mortgage broker courses to help you in the process. Aside from finishing their courses, a mortgage broker turns out to be more reliable because of their licenses and certifications. However, you must still be wary of the fact that there are people who may take advantage of your mortgage needs. You will know the broker to trust by knowing some of the best characteristics of a reliable broker.

Mortgages can be a little bit confusing so these experts must be observant to every detail that the procedure demands. It is essential for them to note everything on their checklist so they can monitor the mortgage process’ progress. This is important since one left out detail can be damaging to your budget.

Aside from thinking of the details, a mortgage broker should also think of the clients first. Keeping their clients’s welfare in mind includes finding the right deals or options suitable for their requirements. But before they can find the right option, they should be able to listen to your needs. They should listen to every detail that you will say, like those about your finances.

Moreover, your broker should be able to introduce different options. There are lots of possible options for mortgage and your broker must exhaust all of them for you. This will be helpful especially since it is essential to find the best and most flexible option for you.

Finally, you must know everything that is happening throughout the procedure. This means that your broker should have the prerogative of giving you updates about the process so you will know whether you have to do something on your end. Aside from this, your broker must tell you properly about the process and explain every aspect. In looking for brokers such as Mortgage Plus South Africa, you must find those who will keep you updated about the overall procedure.

Choosing the mortgage broker for your property investment needs should not only rely with mortgage broker course completion and licenses but also their personal qualities. This will help you hire only the best in the industry and complete your mortgage procedure in no time, and with no hassle.

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 have created a series of Questions and Answers about Originating, Home Loan Products, finance and more!

What Is Bond Origination?

Bond originators give you independent advice on choosing a home loan and help you obtain it without the hassle of doing all the legwork yourself – we answer some commonly asked questions.

What is mortgage origination?

Basically, it is the business of negotiating on the behalf of a prospective property owner, a home loan with a bank.

Why do I need a mortgage originator?

Because your home purchase is probably the most expensive one you’ll make in your life, the home loan itself is an im portant financial decision and the benefit to be gained from making a correct choice can amount to savings of hundreds of thousands of rands over the life of the loan.

Is choosing a home loan really that difficult?

All home loans differ from one another and each bank may evaluate your worth differently, so it is not as simple as shopping around for what appears to be the best interest rate in the market. Each bank has varying credit policies that cater for different claim circumstances. Mortgage Plus has knowledge of all banks’ products and will advise you on the type of loan that best suits you. They will negotiate with the banks on your behalf to get the best rate for that product.

I’ve heard that this service is free – how so?

Indeed, the service is free for the home buyer. Mortgage Plus receives a fee from the bank for doing the groundwork on the loan and thereby reducing the bank’s costs. The bank is, by law, not allowed to add this cost to the amount of the loan, so you won’t pay more than if you approached the bank yourself.

Isn’t it easier to just get my home loan from my regular bank?

Your bank will encourage you to keep all your finances under one roof, so to speak – but at what cost? Because Mortgage Plus originates loans for all major banks, this offers you, the buyer choice and by being able to compare various products and rate offers, you get the best home loan deal in the end.

How do I know if I’m getting good advice?

The professionalism of the originator will quickly become evident, so make sure you are dealing with someone who can explain their recommendation clearly and are credible. Check their track record and only deal with an originator that is a member of the National Association of Mortgage Originators (NAMO).

Must I accept any of the packages they offer?

No – you have not entered into an agreement with the originator, other than to give them the information they need to get quotations from the banks. You still make the final decision whether or not to accept their offer.
Once I’ve accepted their recommendation, what happens?
Mortgage Plus will submit your applications together with the relevant documentation, such as copies of your ID and salary advice, to the bank agreed on and advise you once your loan has been approved. A good originator should also keep you informed all the way through to registration and liaise with the conveyancing attorney on the loan’s progress.

Types of Home Loans

The leading banks usually offer the types of home loans listed below. These types of home loans are also used in the case when you have an existing home loan and need additional funds. Read more about Further Loans.
Your Mortgage Plus consultant will help you choose the option that best suits your needs and help you through the application process.

Variable Rate Home Loan

With a variable rate home loan, your interest rate is linked to the base home loan rate which moves up and down depending on market conditions. If the base rate decreases by one percent, so will your interest rate, and of course if the base rate increases so does your home loan rate.

Fixed Rate Home Loan

Here your interest rate is fixed for a specified period, normally between one and two years. Generally the fixed interest rate will be slightly higher than the base home loan rate when the loan is taken out. A fixed rate loan protects you from rising interest rates and gives you the certainty of knowing exactly what your payments will be. However it does not allow you to benefit from any decreases in the interest rate over the fixed period.

Capped Rate Home Loan

This type of home loan allows you to benefit from any decrease in interest rates, but has a maximum rate built in so you never pay more than the capped rate. These loans are not always available from banks, and generally the qualifying criteria are more stringent.

Remember by choosing us for a loan, you will get professional advice to make sure you are getting the best deal possible.

CONTACT US

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Complete this short form online
Call us on 011.327.4489
Email: morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za