Buying a house can often be a costly and stressful experience. It can also be confusing and advice from a bond originator can be just the helping hand a buyer needs.

The originator is responsible for sourcing the best possible home loan agreement, finding the best interest rate (based on the client’s credit worthiness), ensuring the application is complete and that it includes all supporting documentation, and ensuring submission to the bank of choice, for and on behalf of the prospective buyer.

Working in this industry requires the originator to understand the dynamics of the home loan industry and how to sell home loans.

“The mainstream entry into bond origination is a progression from being in the home loans department within one of the major banks. Alternatively you can start off in the industry as a sales assistant and progress to the position of property finance consultant. A person would want to enter into the origination industry because they recognise the opportunities within a young and vibrant industry,”

Origination is a demanding profession as it involves effectively servicing two customers.

“The home buyer is keen to have confirmation that his or her purchase is secure. This means that the bond or mortgage has to be approved. The real estate agent then puts immense pressure on the originator to ensure that the bond, or mortgage is approved. This ensures that the sale of the property is secured,” said Bendall.

The role of originators is to advise the client on issues related to the completion and readiness of the home loan application. “In some cases, we also advise on various insurance products such as home owners’ cover and mortgage protection,” says Bendall.

The work involves long hours at the office. “A typical day for a property finance consultant may start at 8am where you are required to visit various real estate offices to collect Deed Of Sale application forms. These are then returned to the office for processing. Sometimes, I have a full day of 10 working hours due to the demands of the job. However, in many cases, consultants work into the night concluding applications at times that are convenient for the client,” said Bendall.

The industry is eight years old and therefore has huge growth potential. However, the shifting demographics and legislation in South Africa make this work a challenge. “One has to ensure that as an industry we are well prepared for change,” he said.

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

FNB Home Loans
Mortgage Plus can help you in to get the best fnb bond for your needs. You do not have to lft a finger as we will organize with fnb for the home loan option that will suit you the best.

Apply for a FNB Home Loan Today!

FNB offers a variety of options:
Traditional Home Loan
Take out this loan when buying an existing residential property.

Building Bond
You can apply for a building bond if you are intending to build a home. Once the building is completed, your bond will revert to a normal home loan.

Smart Bond
The Smart Bond is a housing finance product for households that earn less than R15 000 and more than R2 500 per month. If you are planning to build your own home, the Smart Bond Building Loan will take care of your building needs.

Foreign Choice
This allows a foreigner or a South African who has emigrated to purchase a property in South Africa.

One Account
The One Account is an innovative product, secured by your home, that fulfills all the functions of a cheque account, overdraft, personal loan and home loan.
Choose the right facility for you

When applying for a facility on your home loan product, an affordability assessment will be done to find out exactly how much additional finance you can access.

Flexi Bond
You get access to surplus home loan funds 24 hours a day, 7 days a week if you have a transactional account with FNB. Alternatively, access to funds is available during business hours. Surplus funds include any prepayments, as well as a percentage of capital you have already repaid on your home loan up to a pre-determined limit.

Future Use
This enables you to register a bond greater than the home loan amount you require, creating an extra amount that may be accessed at a later stage.

Pre-Paid Finance
Withdraw any additional money that you have paid into your home loan account.

Repayment Choice
Increase your monthly instalment and save on interest. This also allows for you to pay off your home in a shorter period of time.

Re-Advance
This gives you access to the funds that make up the difference between your original registered home loan and the outstanding balance.

Further Bond
Obtain funds by registering an additional amount over and above your original registered bond amount.

Interest Rate Options
Fixed Rate
For the duration of your contract period (12, 18 or 24 months), the interest rate on your home loan remains fixed and is unaffected by any rise or fall of general interest rates.

Variable Rate
This is the standard interest rate option. The interest rate varies in line with current interest rate movements.

BA Linked Rate
The interest rate is directly linked to the publicly quoted three-month SAFEX BA rate (Bankers Acceptance Rate) and offers a highly competitive means of financing your home loan.

Home Loan Insurance
Home Owner’s Cover
This insures your house and any structural improvements to the property. This cover is compulsory with any home loan.

Home Loan Protection Plan
This plan provides peace of mind in the unforeseen events of death, temporary and permanent disability and retrenchment.

CONTACT US
For more assistance with regards to Applying for Home Loan Finance .
Email: morne@mortgagepluscc.co.za
Ph: 011.327.4489
or Complete This Online Form