Home Loans available throughout South Africa

No matter where you are located in South Africa, whether it is in Johannesburg, Cape Town, Pretoria, Durban, or elsewhere; we will find you the best Home Loan available.  We do this through comparing home loan products between the financial institutions.  We consequently become a specialist in the field of home loans, building loans, further loans, bond switches and commercial loans with more and more people in South Africa coming to us for our expertly reliable home loan assistance services. It should be noted that Mortgage Plus is not a bank or an estate agency but is a bond originator who will assist you by starting the bond application process on your behalf.

Online home loans through Mortgage Plus

Why visit banks and waste time when you can use the internet to find the best Home Loan right at your fingertips?

Whether you have time during your work schedule, or need to search for the best Home Loans Online at home, we are here. With a presence on the web to provide our users with the best and latest information possible for example new regulations when it comes to bond originators as well as home finance and interest rates that may affect your decision when looking at a specific Home Loan and comparing it to others. This may also affect the bank that is chose, whether it be ABSA Home Loans, Standard Bank Home Loans, Nedbank Home Loan, First National Bank home loans or a variety of others.

We are experts when it comes to home loan finance in South Africa and have specialists standing by, just for this very purpose.

Mortgage Plus will find the right deal for you. Guaranteed!

Please Note:

We have a Personal Loan product that we specifically structures for Property Buyers who wants to buy residential properties but do not have a cash deposit or transfer cost for the property they are buying. “This Product is exclusively available to clients that apply for a new home loan through Mortgage Plus Bond Originators”

Mortgage Plus Home Loan Calculators :

Affordability Calculator, Bond Status Calculator, Increased Instalments Calculator , Minimum Income Calculator , Monthly Payments Calculator

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

Buyers snap up distressed homes

Gauteng, the country’s most desired province has the most active distressed residential property market, according to RE/MAX of Southern Africa.

The agency says of the 600 distressed properties listed to date this year, 70 percent are in Gauteng, 20 percent in KwaZulu-Natal and 10 percent in the Western Cape.

Distressed properties are expected to continue flooding the South African residential market for the next five years at least, says Peter Gilmour.

He explains that a lot of this is caused by interest rate hike on the horizon as well as the consumer’s debt-to-disposable-income ratios and the homeowner’s ability to meet their monthly bond repayments.

“Of the distressed properties listed in Gauteng, close on 40 percent have been successfully sold.”

He explains that these distressed properties spent an average of 48 days on the market and are priced between R250 000 and R2 million.

In Pretoria, two distressed properties sold this year spent a month on the market.

Grobler says distressed properties in this area range between R500 000 and R1.5 million and not all of them are in the bank’s distressed program.

“There are many homeowners who are desperate to sell their properties due to financial constraints, but are not yet on the official bank’s distressed program.”

These properties offer buyers a good investment as property remains a valuable asset class to invest into.

“They are qamna prices and we do not see distressed properties as offering anything other for a buyer in comparison with a non-distressed property,” she says.

In some parts of Gauteng, distressed properties that have been sold were sold for less than market value.

Jannie Storm,  operating in the Vaal Triangle including Vanderbijlpark, Sasolburg and Vereeniging says they have sold 11 distressed properties for less than the market value.

For the most part, says RE/MAX, distressed properties sell very close to their actual market value.

Currently, Storm has 28 distressed properties in Sasolburg and Vanderbijlpark priced between R300 000 and R600 000. They take between 30 and 70 days to sell on average.

In some parts of Gauteng, distressed property sales have created an immense demand for property in areas such as Clayville and Tembisa on the Midrand periphery.

This is largely thanks to the banks’ more lenient approach towards buyers of these distressed homes, says Julie Davison-White, principal of the Aida Midrand office.

“Banks have been granting bonds of up to 100 percent to buyers with good credit records when they buy property in these areas as well as some parts of Midrand,” says Davison-White.

However, she says this is not the norm as many buyers still have to put down deposits of at least 5 or 10 percent. Many buyers in Clayville and Tembisa have been purchasing property through the assisted sales programs offered by the banks to financially distressed homeowners.

Davison-White says through these programs, buyers are often able to access 100 percent bonds and 50 percent reduction in transfer costs enabling them to get a foothold in the market much more easily.

For distressed homeowners, she says the program assists them to sell their properties at reasonable prices instead of having them repossessed and then have their credit records tarnished as a result of repossession.

Distressed properties in this area sell quite quickly at prices ranging from R350 000 to R550 000 for free standing homes in Tembisa and from R550 000 to R700 000 for freehold homes in Clayville.

Demand has increased for lower-priced properties in popular areas such as Vorna Valley with price averages of R550 000, in Halfway Gardens, townhouses are priced at between R650 000 and R900 000 and Noordwyk, houses are priced below R1million and these are said to be selling like hotcakes.

As for freehold homes in higher price brackets, Halfway Gardens is currently one of the most popular areas for buyers targeting suburban homes priced between R1.1million  and R2.2 million  and clusters costing between R1.4 million and R2.5 million she says. – Denise Mhlanga

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