Contacting a Bond Originator to do your home loan rather than trying to go directly through to the Banks

Before you apply for a loan, it might be best to contact a bond originator like Morne Prinsloo the (CEO) at Mortgage Plus cc that will negotiate the terms of the loan to ensure that you get the best possible deal. Applying for a home loan / mortgage on your own might be a complex and tricky task and a bond originator can assist you in speeding up this process and raising your chances of having the loan approved in a very short amount of time.

Mortgage Plus Bond originators provide an invaluable service to the South African public when it comes to applying for a home loan. We will be able to assist you in making a sound financial decision regarding your future by helping you choose a loan that is practical and affordable and helping you to avoid the common pitfalls of applying for and accepting the first mortgage loan that comes along. Obtaining the perfect home loan for your financial situation takes careful consideration and knowledge of the home loan and financial industry in South Africa, you can obtain all of this by contacting Morne Prinsloo a bond originator at Mortgage Plus on 0861 1111 93 before applying for your loan.

A bond originator like Morne Prinsloo plays an important role when it comes to applying for a home loan. A large percentage of all home loans in South Africa are generated through this system because they assist with the entire process, from start to finish. Morne will apply for a home loan at many banks and negotiate low interest rates on your behalf and with no costs to you.

At Mortgage Plus Bond Originators we know everything there is to know about home loans and can become a vital link between the bank and you. They will submit your application to many banks and will usually do business with those that offer the applicant the lowest interest rates. In turn, they receive a fee from the Home Loan Department of the bank for bringing them new business.

Banks are becoming more bureaucratic these days because of the economic downturn in the world. In this regard, they will usually require a mountain of paperwork and a motivation as to why they should lend you the money. Mortgage Plus Bond Originators is aware of this and can ensure that you send in the correct documentation such as bank statements and a payslips, together with your application.

Mortgage Plus is a well-established originator company that is linked via the internet to all the major banks, we are able to see on the system how far your application has progressed and we are also able to find out the reasons for delays or why an application was declined by speaking to the right people.

Another important aspect of using a bond originator like Mortgage Plus is to help you pre-assess your finances to ascertain whether you are likely to qualify for a loan. We will also help you calculate the maximum amount you can apply for by taking into consideration your income status. They do this by calculating assets and liabilities, together with your monthly expenditure. Once all these factors have been considered, then an accurate assessment can be made on the amount of money you can apply for at a bank.

The thrill of buying a new home is not easily matched and many people lose their focus when it comes to financing the property. Additionally, if more than one person makes an offer on the home then you stand a great chance of losing out because you are not using an originator like Morne to speed up the process.

A Mortgage Plus bond originator will continue assisting you with all the legalities until you become the official new homeowner.

If you would like to know more about your home loan services and mortgage requirements please phone us on:

Attached please find the Home Loan Application Form * - Short Home Loan Application Form

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

South African Banks’ voluntary sales programmes for defaulting debtors are growing throughout the country as distressed homeowners and financial institutions continue to seek alternatives to legal foreclosure, and home buyers increasingly opt for the significant discounts that come with these sales.

“Each bank has a different programme with names such as Quick Sell or Easy Sell and many of these are run through electronic platforms”, says Auction Alliance CEO Rael Levitt.

With the introduction of various bank distressed sales programmes, a homeowner that is struggling and cannot afford their bond repayments, agrees with the bank to sell the house on a voluntary basis before the legal process kicks in.

Levitt maintains that the reason why sales in execution, the traditional legal foreclosure channel, have dropped off is due to banks aggressively promoting their voluntary distressed sales programmes. “In the USA these programmes are called short sales and they are one of the largest sales sectors in the market”.

FNB reported a decline in the variety of houses on sheriff auction compared to the past year or two because of products that avoid the costly auction process. However, CEO of FNB Home Loans, Jan Kleynhans, believes that customers should look at these properties to find good deals. “There are bargains with houses now sold for 20% to 50% below their initial value,” he says.

According to Kleynhans, FNB sold between 100 and 150 houses a month, and has sold R4 billion worth of distressed houses since the introduction of his bank’s various voluntary distressed programmes. FNB’s non-performing home loan book is valued at about R6 billion. The other three home loan banks have varying distressed sales volumes and non-performing home loans.

“My estimate is that non-performing home loans in South Africa is valued between R25 to R30 billion, and this excludes distressed commercial properties and property developments”, says Levitt.

With 4,145 voluntary distressed sales advertised in the third quarter, the Gauteng area had more distressed sale transactions than any other metropolitan area according to Auction Alliance. These distressed sales came with an average discount of 32% and at an average price of R410,237.

The Western Cape ranked second in the number of distressed sales advertised for the second quarter with 2,434 sales, which came with an average discount of 29% and an average price of R433, 793.

According to the Auction Alliance survey, the areas with the highest numbers of distressed sales in the third quarter were:

1. Kwazulu-Natal’s South Coast

2. Pretoria East

3. Gauteng’s East Rand

4. Garden Route and Southern Cape

5. Northern Suburbs Cape Town

Distressed sales savings averaged more than 30% in the Southern Cape in areas such as Mossel Bay. Across the country, vacant stand savings averaged more than 50% with many banks offloading these at any price.

The East Rand experienced a 22% rise in distressed sales from the first quarter to the second quarter of the year, while Pretoria saw a 27% rise in these sales. The Eastern Cape and Limpopo provinces also saw significant increases in distressed sales over the quarter with 15% and 17 % respectively.

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