First time buyers

Well done! The decision to buy a home has proven to be one of the best made for millions of happy homeowners. It is a fact that property is a good investment, especially when you compare it to paying rent. It is important, however to enter the property market with a good understanding of how a property purchase works, what your costs will be and a respect that this is probably one of the largest financial commitments you will ever make.

Best advice

Your Mortgage Plus consultant will give you the best advice on all aspects of your home purchase, and most importantly on financing it, particularly when the banks differ in their approach to lending. We will help you understand the different interest rates, fees and charges, and terms and conditions available. We will explain to you the features of the different loans and why they are more suited to your individual requirements.

Important Pointers

• Know what you can afford and the costs
• Consolidate your finances
• Significant savings are possible by consolidating all your finances. As home loan rates are significantly lower than those for personal loans, overdrafts and credit cards, but significantly higher than savings and current account rates, it makes sense to consolidate everything into your home loan account.

Minimise your Mortgage
By effectively structuring your finances, you can significantly reduce your total home loan debt. Arranging part of your salary to be credited directly to the loan and making additional repayments on an ad hoc basis (like when you get a bonus) will have very beneficial results. By sticking to a workable monthly budget and avoiding unnecessary debt, you can repay your loan much more quickly and save vast amounts of interest. To find out how much interest you can save and how many years you can take off your loan, contact us today.

Example

You can settle your home loan in 5 years:

• Pay off an extra 1.2% of the original capital debt each month (R 1 200 per R 100 000)
• Adjust for interest rate changes when they occur
• Don’t access funds already paid off

Whilst this may mean some sacrifices, you will save a fortune in interest.

To qualify:

• Deposit of anything from 0 % – 30%
• First time home buyers only
• Have a clean credit record.
• Minimum loan amount of R 100 000
• Single or joint income must be minimum R 6 000 a month
• Your monthly bond repayments cannot exceed 30% of your gross monthly income. Also refer the National Credit Act stipulations.
• Permanent employment

You can take advantage of the option provided by certain banks of a 3-month holiday on home loan repayments.

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 BONDS from Mortgage Plus     (011)327-4489

There are so many types of mortgage bonds which are currently available that it can be an often confusing and intimidating task when wanting to take out a mortgage bond which will be most ideal for you. This is where Mortgage Plus can help. With their in-depth knowledge in the mortgage bonds available and what each option entails, this mortgage bond originator is able to guide the prospective of a mortgage bond to eventually decide upon the best option which will match their needs and requirements.

These numerous types of mortgage bonds which are available from the major banks in South Africa such as ABSA, Nedbank, FNB, and Standard Bank, include a few of the options as listed below:

First time buyers Home Loan: This is a special mortgage bond option in that it is ideal for those who have never owned a property or taken out a home loan. With this mortgage bond, the banks will lend you more than 100% of the property value, enabling you to include the transfer and registration costs into the mortgage bond; and hereby making it easier for you to enter into the property market. No deposit is required with this option.
(for the right purchaser) 

A Variable Home Loan: Given at the negotiated interest rate, this mortgage bond option is the traditional home loan optional. Home Loan rates are always negotiable, and are generally affected by the amount of the loan taken out. The smaller the loan, the less chance you have of getting below the prime lending rate. With this type of home loan, if the interest rates increases by 1 percent, your home loan rate will increase accordingly. If the interest rate drops, so will your home loan rate.

Fixed Home Loan Rate: With this type of home loan, your interest rate is fixed for a period of time; for one or two years on average. When considering this mortgage bond option do keep in mind that the interest will be slightly higher than the current loan rate. The beneficial advantage of this option is that it offers you protection from rising interest rates, so for that period of time you know what your bond repayments are. The only downside is that if the interest rates drop, your home loan rate will stay unchanged, resulting in you having to fork out more money at the end of the day.

Capped Home Loan Rate: With this type of Home Loan, you will never pay more than the capped rate, as your interest rate is capped at a maximum rate of interest for a period of time. And if the interest rates increase, you will never pay more than the capped rate you have negotiated. The outstanding pleasure which comes along with picking this option is that you will reap the benefits in the case that rates decrease.

Please do take note that this type of mortgage bond is not so readily available, and there is certain criteria required before your designated bank will approve your application.

For more information on these mortgage bonds and other options, speak to one of Mortgage Plus Mortgage Bond Originators and they will give you details and advise to set you on your way to taking out a mortgage bond you can ultimately afford and will enjoy in the long run.

Quick Mortgage Bond Application Online

Mortgage Plus has a facility online which allows prospective clients of mortgage bonds to apply quickly. Essentially this innovative service of Mortgage Plus has been well-accepted as it saves time and takes away the frustration which would usually come along with making an application for a mortgage bond.

This is a free service, making another reason for the popularity of applying for a mortgage bond online.

So what are waiting for? Mortgage Plus is willing and able to help you get the best mortgage bond you can at the lowest possible rates.

With Mortgage Plus there are no surprises.

Get in contact with Mortgage Plus today and experience the joy of having a mortgage bond expert on your side.

Mortgage Plus : knows the business of mortgage bonds.

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