Bond & Home Loan Originators

The home loan / Bond Finance market in South Africa has, over the past few years, become very competitive and For various reasons, there has been a marked increase in first-time home buyers loans and New Home Loans.  The driving factors include the modern tendency among young people to live with their parents longer to save a deposit.

There is also a slow but steady increase in savings among younger people. Add to this the readiness among financial institutions to take factors such as contributions from significant others and family who will live on the property when granting home loans. This is really good news for the consumer because not only are the number of mortgage providers in South Africa increasing, but competition among the four major bond providers has really started to heat up.

One of the major reasons in this property finance jump for this is because bond originators and home loan advisors in South Africa. Bond Originators like Mortgage Plus (Rated one of South Africa’s Top Bond Originator Companies In 2011) are competing between the banks and the consumers and in return the banks and financial institutions  have been forced to offer better service and better mortgage / home loan products to the client on the street.

Through its unique relationship with banks a SA Mortgage Originator is able to apply to multiple banks and get your application approved faster.

There are lots of benefits in using a Bond Originator like Mortgage Plus for example:

• You do not need to go through the application process with every bank. The originator or home loan adviser will collect all the necessary documentation and setup your application to ensure the process is a smooth one between all the financial institutions throughout South Africa.
• You only need to complete one application, which will be submitted to different banks electronically (Mush faster turnaround times). After you received our approvals (Grants) from the different banks it’s up to you to decide which bank your wish to go with.
• Better rates: Because we have a strong relationship and contracts with all the major banks and that’s we are able to negotiate a lower rate on your Home Loan Quotations – Mortgage Plus will save you thousands over the term of the home loan.
• Free home loan Service: Probably the best feature of the bond origination industry is that the service offered is totally free. The bank pays the originator “us” and these costs are not passed on to you our client.

Mortgage Plus Bond Originators is one of the top online mortgage originators in South Africa. They are also able to offer you some very nice bonuses and discounts. Speak to a home loan consultant about financing your new property or reviewing your existing mortgage.

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 originators – 0861 1111 93

Qualification Matrix

Transfer and Bond Cost

With a myriad of mortgage products on the market, it is not always easy to know where to go to obtain the exact bond finance you need at the time and in the circumstances.

That is where the mortgage originator comes into the picture. “However, many people are unsure of exactly what services a mortgage originator should offer and what benefits they provide”.

The key function of a mortgage originator is to introduce a borrower to a lender and to act as a personal consultant in an attempt to help you obtain mortgage finance for a property. “The mortgage originator will apply to and negotiate with a financial institution in respect of the home loan on your behalf.”

A mortgage originator should have specialized knowledge of the various products and rates available on the market in order to give independent advice with the aim of obtaining the most suitable bond from the most appropriate mortgage lending financial institution for your particular needs. They should help you assess your affordability and explain fully and in plain language the material terms which you need to be aware of to make an informed decision.

“While you are not obliged to use their services, it can make the process much quicker because of their familiarity with the process, products, assessment yardsticks and requirements of the individual financial institutions,”

“With a mortgage originator you only have to fill out one application and they request only one set of the relevant prescribed supporting documentation, such as identity documents and salary advice slips, required by the financial institutions. They then submit the application to the various financial institutions on your behalf and try to negotiate a lower rate for you.

It is generally understood that a bond originator is able to secure a cheaper rate than if you approached the bank directly as they are on a better negotiating platform. A good mortgage originator should also follow up with the financial institutions on a regular basis and keep you informed.

Once the mortgage originator receives the various quotations, they should sit down and help you to assess your options, advising you of the pros and cons of each with your particular needs in view. “Essentially, the final decision should be yours after weighing up all your options and taking into consideration the advice and recommendations of the Mortgage Originator. Apart from providing you with information on the various mortgage products they should also be able to assist you with convincing and related costs.

The mortgage originator is usually paid a fee or commission by the lending institution with whom the loan is taken up, so the service should be free.

Remember Originators do not have control over and cannot therefore accept responsibility for credit decisions or valuations made by the mortgage lending financial institutions and is a good idea to approach a mortgage originator before you go house hunting so that you know what loan amount you will be eligible for.

Should you have any problems complaints may be addressed to the Office of the Ombudsman for Mortgage Originators which has been set up to deal with complaints against mortgage originators.

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