Real People, real Advice

Buying a new home can be one of the most stressful events in your life. At Mortgage Talk “Mortgage Plus Bond Originators”, our friendly experts take the hassle out of financing your new property with simple, independent advice on the best range of mortgages to suit your individual needs.

One of our independent mortgage advisers will aim to find the mortgage to suit you and handle all of the arrangements with your mortgage lender. We can also help you find legal assistance and provide advice on life assurance and property insurance so that you can protect what’s important to you.

Our friendly, straight talking team will update you every step of the way, right through your move.

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

Flat, smallholding, cluster or semi-detached?

When it comes to describing the type of property you live in, there are a number of terms and categories – some of which can be confusing.

Here is a quick and simple guide to the different types of properties out there and the meanings of their terms and classifications.

Full title

This is when the owner has full ownership rights to the entire property and its improvements. Full title generally refers to the following types of properties:

House

This is a normal free-standing domestic residence with an erf number.

Cluster home

This is a freehold property, usually in a development of similar houses. The development normally has limited access and security. Each house is individually owned and a levy may be charged for the upkeep and management of the property.

Residential property used for business purposes

This description is applied if the structure remains that of a domestic residential dwelling and more than half of the dwelling is used for business.

Small holding

A small holding consists of an estate no larger than 20 hectares, situated within 150km of a built-up area, and with a borehole or the potential to be connected to a local-authority water supply. To qualify for a home loan, there must be a dwelling on the property and the main source of income must not be from farming on the property.

Sectional title properties

This means each owner has the rights to only a section or unit of a building complex (such as a block of flats). Sectional title is the general form of ownership of any of the following:

Mini sub-type house

This is a small, subdivided portion of a larger property that is suitable for cluster housing development.

Semi-detached house

This is when two houses are attached to one another. They may be on separate stands and bonded individually as ordinary houses. They can also be on one stand and bonded together. Or they can be bought as separate units in a sectional title development.

Townhouse or flat

This type of property is situated in an approved sectional title complex of residential units only. Each owner pays a monthly levy towards the upkeep of the exteriors and communal facilities.

Duet house

This is similar to a semi-detached house, but the two houses are on one stand. The houses may be apart from each other or attached.

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