Bond Originators is a must in South Africa when applying for a home loan

South African Banks have differing home loan, mortgage criteria, and product ranges for specific market segments. Logically the First time homebuyer has a vastly altered profile to the multi-millionaire private bank client seeking out his status-symbol property.

For most South Africans buying a home is one of the biggest investments a person will make in his or her lifetime. Because your home purchase is probably the most expensive one you will make, the homeloan itself is an important financial decision.

The prospect of owning a home is exciting, but it can also be a time of anxiety. This is a time when emotions must be kept in check, and one should make an informed financial decision.

Therefore, a daunting, unnerving experience that cannot be undertaken without professional assistance from a Home Loan Expert or a Bond Originating company like Mortgage Plus “Rated one of South Africa’s Top Bond Originator Companies In 2011”.

Bond Originating companies like Mortgage Plus cc work closely with the all the major financial institutions throughout South Africa and understand the precise parameters required in order to get you your first home loan, placing home loan consultants in the position to advise clients on how to accurately present the deal. The essence of Mortgage originators is that they can offer clients appropriate advice and choice on different types of home loan products throughout South Africa.

A mortgage originator provides the public with home loan assistance through relatively unchartered territory, while lowering mortgage bond costs and stimulating inter-bank competition. Around 60-70 %of South African home loan approvals have followed the bond-originating route reflecting the vital link mortgage originators plays in the home ownership chain in South Africa.

Mortgage originators like Mortgage Plus cc have agreements with all the major financial institutions “banks” in South Africa this means those clients fortunate enough to qualify for a New Home Loan from more than one institution has the enviable choice of accepting the one offering the best home loan interest rates and terms.

Bond originators capitalises on the short window of opportunity potential homebuyers have in which to secure home loan or mortgage finance to confirm their purchase. The home loan industry provides unbiased and extensive product knowledge that caters for each client’s specific needs, thus boosting their chances for a successful mortgage application while recognising that securing the bond and determining the associated costs is pivotal to the decision-making process.

Remember Banks want to reduce the amount of time wasted on unfeasible home loan applications and that is the value Mortgage Bond Originators offer to both the financial institutions and the man-in-the-street – having the expertise to weed out those bond applications that should never be placed before the banks.

As home loan specialists Mortgage Plus cc offer their clients a free home loan service and the best chance of getting a home loan on the best terms with the advantage of one-stop shopping and the convenience of choice. The key lies in giving clients a choice of banks and thus providing a hassle-free service without incurring additional costs.

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

0861.11.11.93

info@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Professional Home Loan Advice

Buying a home is certainly not an everyday or even frequent event for most South Africans, and many aspirant homeowners are at a real loss when it comes to applying for and obtaining mortgage finance.

“In fact, even repeat buyers may struggle with this because the market has changed so much since many of them bought their current homes, and the ‘rules’ for obtaining a home loan are so different now.

“Consequently, it’s a really good idea to seek advice and help from an originator such as Mortgage Plus before you even begin house hunting, because we do so much more for potential buyers than just process home loan applications.”

Very importantly, a good originator is able to help the prospective borrower understand how much home finance he or she is likely to qualify for, by undertaking a proper affordability assessment. This includes carefully checking bank statements, salary slips and tax returns as well as the borrower’s credit history, cash available and ability to really afford monthly home loan repayments without hardship.

“And on the basis of this assessment, potential buyers can gauge very accurately what property price range to target when they do go house hunting, so that they don’t waste time looking at homes they cannot afford, and are spared the embarrassment of making an offer only to have their home loan application refused on affordability grounds.

“In some cases, Mortgage Plus are able to help prospective borrowers improve their chances of obtaining finance by suggesting that they first save up a deposit, or perhaps take the time to repair a damaged credit record.” Other important advice available from mortgage originators concerns the size of any deposit that is likely to be required – which not only varies from bank to bank but can also depend on the purchase price of the property – as well as the total cost of the potential purchase, including transfer costs and the interest on the home loan.

“For example, on a R 1 million purchase made with a 100% loan, the transfer costs including duty, bond registration and attorney fees would amount to some R 45 000, while the interest payable on the loan over 20 years would be some R 1,2 million.

“If the potential buyer were to pay a 10% deposit, the transfer costs would only be reduced by about R 1000, but the interest payable over 20 years would be R 1,05 million – a big saving. In addition, some banks might then be willing to grant the loan at a lower interest rate, which would mean even bigger savings.”

Meanwhile, loan consultants working for Mortgage Plus Bond Originators know exactly what information and paperwork is required by each bank when an application is submitted, and can ensure that each application has the very best chance of succeeding.

“Indeed, while only about 50% of applications are initially approved by lenders, Mortgage Plus is able to get a further 16% approved by giving potential borrowers the proper advice, and by individually motivating the applications and sometimes submitting them to more than one bank.

“They are thus able to show a 66% success rate, which is especially relevant for self-employed individuals, for whom it is particularly difficult to get a loan at the moment.

And of course our help is free to the borrower, and unbiased as to any particular financial institution.”

If you would like to speak to a Professional Mortgage Specialist about your lending requirements, please phone Mortgage Plus Bond Originators on:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za