What are the benefits of using Mortgage Plus Bond Originators ?

By using our services, you avoid the hassle of going from bank to bank dealing with tedious and repetitive paperwork and not knowing if you are getting the best deal. With Mortgage Plus Bond Originators, your personal property finance consultant is able to advise as to the most appropriate home loan options to suit your individual needs and source competitive interest rates from all the major banks. We handle the entire application process on your behalf.

Are there any costs for using Mortgage Plus Bond Originators ?

No, there are no costs for using our service as the lenders pay Mortgage Plus an outsourcing fee to complete the application process. “Applicable only to ABSA, NEDBANK, STD BANK and FNB”

Is there any obligation to accept a home loan sourced by Mortgage Plus Bond Originators ?

No, there is no obligation to accept any approved home loan that we have sourced on your behalf. “Applicable only to ABSA, NEDBANK, STD BANK and FNB”

When will I need to contact a property finance consultant ?

You don’t have to contact us, as your dedicated Mortgage Plus Bond Originators property finance consultant will contact you should we require any further information or to expedite your home loan approval.

How is Mortgage Plus Bond Originators different to other home loan brokers ?

Mortgage Plus is only one of a few full-service origination companies in South Africa, capable of handling the entire home loan approval process, with a national infrastructure and proprietary software able to automate the application transaction making home loan approval as convenient as possible.

How will I be able to track my application status ?

Your dedicated property finance consultant will keep you informed throughout the entire process and will be available at your convenience should you have any questions.

How long will it take to approve my home loan ?

Normally, applications are approved within 4 days, assuming we have received all the information required.

If I have obtained a pre-approval through Mortgage Plus Bond Originators, how will I obtain a full loan grant after I purchase a home ?

All you have to do is inform your dedicated Mortgage Plus consultant and he/she will complete the application process on your behalf.

What if I already have a pre-approval from another lender ?

We can complete the application process on your behalf, or we can try to source a competitive rate from another lender.

After I apply for a loan online, what should I expect ?

Once your application is received, you will receive notification of receipt and that your application has been submitted. Within 24 hours you should receive an email or a call to inform you whether your loan has been approved in principal, or further documentation is required. If approved, you will also be notified of the interest rate pertaining to your approved loan.

Do I have to apply online ?

You can either apply online, or call us and an experienced Mortgage Plus Property finance consultant will contact you at your convenience.

Who will see my application ?

Only those parties involved in processing your home loan will see your application details.

Are there any hidden fees ?

No, there are no costs for using our service, as the lenders pay Mortgage Plus Bond Originators an outsourcing fee to complete the application process. “Applicable only to ABSA, NEDBANK, STD BANK and FNB”

Will I get the same interest rates as if I applied through the bank directly ?

Yes, amongst other things, your credit profile, affordability, and loan to value ratio determine your interest rate on your home loan. All these details are captured into the lenders credit scoring models and your interest rate is calculated. Whether you apply through Mortgage Plus Bond Originators or through the bank directly, the same credit scoring model is used to determine the interest rate applicable to your home loan. However, our experienced home loan consultants are able to motivate further on your behalf.

Can I purchase a property in South Africa if I am a non-resident?

Non-residents may purchase property in South Africa but in terms of Exchange Control Regulation 3 1 (f) they may not be granted any financial assistance e.g. Bond. However, the South African Reserve bank will consider requests by Non-Residents for bond facilities not exceeding 100% of his/her borrowing base.

The ‘Borrowing Base” of a Non-Resident individual is the sum introduced into South Africa to fund the purchase of a property e.g
“A non-resident wishes to purchase a property in South Africa for R600,000.00. Provided R300 000.00 is introduced into South Africa to effect the purchase he / she would be able to apply to the South African Reserve bank for permission to avail himself of a bond of R300 000.00. In other words 50% mortgage loans are available to Non-Residents. However, it must also be borne in mind that the banks will only grant a bond of 50% of their valuation of the property, which may in some instances not equal 50% of the purchase price.

All requests of this nature must be routed through a commercial bank and not directly with the South African reserve bank.

Proof must be provided that the funds physically came into the country (which can be done by the Transferring / Conveyancing Attorney), so that when the property is sold, the Deposit plus profit can be released. The title deed will be endorsed “non-res”.

The Non-resident does not have to open a banking account in SA, although some banks insist, as he/she can transfer funds directly from his overseas account into his Mortgage Account. If an account is to be opened, especially if an access facility is required for the capital paid off, then the non-resident is required to obtain an original letter of credibility from his bankers.

As Exchange control is a complex subject, Non Residents are advised to consult with our Mortgage Plus Bond Originators property finance consultants on this issue.

If I am a South African Resident, working abroad, can I apply for bond finance to purchase a property in SA?

Yes, if you are a SA resident, working abroad, an 80% mortgage Bond can be obtained. Most banks will look at granting up to an 80% loan but each application will be looked at on individual merit. Some clients have been granted 100% finance but in exceptional circumstances.

You must only be living abroad temporarily and must have plans to return to South Africa. Moreover, an application to emigrate must not have been made, nor should you have surrendered your permanent residency status in South Africa. Please speak to one of our experienced Mortgage Plus Bond Originators property finance consultants to assist you in this regard.

For further information contact Morne Prinsloo on 011 327 4489 or email morne@mortgagepluscc.co.za

If you would like to know more about your home loan services and mortgage requirements please phone the Mortgage Plus Head Office on:

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

0861.111.193

info@mortgagepluscc.co.za

www.mortgagepluscc.co.za

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