No Deposit Required for First Time Home Buyers in South Africa

Mortgage Plus Bond Originators, has recently finalized agreements with the major financial institutions in South Africa which would assist lower and middle income groups in obtaining housing loans (Home Loan). The unique concept of these housing loans is that there would be no deposit required.

To apply for your 104% home loan you will be required in supplying us with the following supporting documentation:

1. Proof of income: 3 Months Payslips / 6 Months for commission earners
2. Latest 3 months personal bank statements / 6 months for  commission earners (No Internet Statements)
3. Copy of your ID document. (For both applicants if applicable)
4. Copy of Marriage Certificate or ANC Contract. (If applicable)
5. Copy of the Purchase Agreement.(Offer to Purchase)
6. Utility Bill (Water and electricity statement)

The following terms and conditions will apply:

1. Applicants must be first time buyers
2. Monthly income cannot exceed R 15733.00 pm for single / both applicants together
3. Clean credit records
4. No return debits on bank accounts
5. Income must reflect in bank account
6. Minimum Employment – 12 months
7. Maximum loan: R 500 000

Mortgage Plus Bond Originators has a good relationships with the top banks, and is able to expedite the application, approval and registration process due to our knowledge of and integration with the banks systems.

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

Smart Bond is a housing finance solution for applicants earning a monthly household income of R15 000 and below. With Smart Bond, approved customers are able to enjoy 100% bond finance, i.e. there is no deposit required.

More about: Smart Bond Overview

Why do I need this?

What can I do with this?

What will it cost?

Do I qualify?

To qualify for Smart Bond, the following is required:

• You need to be a South African citizen, formally or self-employed
• Your salary/income must be paid into a bank account
• You must not have had judgments and/or defaults of more than R1 000 against you in the last 12 months
• The property you intend to buy must be acceptable for lending purposes
• Your bond instalments must be paid via a debit order or payroll deduction facility

You should still be able to afford your bond instalments, including the following:

• Current expenses and other monthly debt instalments
• The new expenses relating to the new home you are buying

You can get this at:

• MORTGAGE PLUS cc
• www.mortgagepluscc.co.za
• 011.327.4489
• info@mortgagepluscc.co.za

What do I need to do?

Complete Smart Bond application form and hand it to the consultant / fax it to 086 560 1224 together with the following documentation:

• A copy of your valid Identity Document*
• Your latest salary advice/pay slip*
• 12 months’ bank statement if you are self-employed and not banking with FNB
• Details of the property you are buying

*For you and your co-applicant where applicable.

Legal:

Once your bond has been approved, you will be required to sign a loan agreement that stipulates the conditions, requirements and responsibilities pertaining to you and the bank.