Mortgage Refinance

If you are stuck by paying your monthly bills and looking out for some rates on your mortgage loan, refinancing is there to help you out. You can also consolidate your debts and pay your debts much faster and easier than before. All these can be done through mortgage refinancing. You should first know what mortgage refinancing is before we start.

Mortgage Refinancing

Mortgage Refinancing gives you the opportunity to use a mortgage loan to replace your current mortgage bond. You will be able to replace it, with favorable terms and rates that you can afford. The mortgage bond is taken against the same property as collateral. This may not or may exceed the current loan balance.

You can also use the left out cash, after you have paid for the current mortgage. This is a great advantage because you get some extra money to use it for your other requirements. This type of refinancing is known as the cash out refinancing.

On the other hand, getting the exact amount as loan and replacing the balance is called mortgage refinancing. Now that you are clear with the meaning of refinancing, you should also know that you can save a lot through it.

The amount that you get as loan is given at a low interest rate and this saves you money and leaves you with less stress. The terms seem to be very flexible and meet all your requirements. If mortgage refinancing can help you to save your cash, why not go for it and pay down all your existing loans.

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

Nedbank Home Loans

Nedbank home loans cater for a variety of individuals within South Africa and include four different types of home loan choices.

• Original home loan
• Buy to let home loan
• Building home loan
• Home vision home loan
• Original Nedbank home loan

Qualifying criteria includes individuals earning at least R2 500 in monthly household income and must have a clear credit record. Property value to a minimum of R100 000 needs to be obtained prior to applying to the loan.

Individuals may furthermore repay their loan to up to 30 years with interest rates being fixed or variable. Other flexible facilities with this home loan include options to apply for

a re-advance where individuals who have paid off some of their loan may apply for the same amount.
NedRevolve facility which allow individuals to withdraw the funds which they have paid in surplus on their home loan.
an accelerated payment option where individuals may pay more than then minimum installment in order to speed up repayment of their home loan.
With the ever changing markets home owners with this loan option may also apply for a higher loan amount if the value of the property has increased.

Buy to let home loan

This loan is given to individuals who want to invest in a property with the aim of renting it out to other individuals. Qualifying criteria includes individuals having to earn at least an income of R30 000.00 and should have a clear credit record. A property value with a minimum amount of R150 000 will only be considered.

Building home loan

Qualifying factors include that individuals earn at least R2 500 per month and have a clear credit record. Individuals can only apply for this loan when a property with a minimum value of R150 000 will be build. Builders must be able to proof that they are NHBRC approved.

Home vision home loan

When the value of your property increase home owners may apply for a home vision loan. The difference of the original loan and the new property value may be utilized for most purposes if approved.

Home owners are encouraged to apply for this loan instead of a second mortgage as costs levied are much lower. The minimum property value has to be R100 000 to apply for this loan.

Nedbank branches can be found all over the country but individuals may also logon to the Mortgage Plus website to apply online in the comfort of their own homes. The website is very informative and individuals may also make use of the home loan calculator to determine the value of the home loan they might qualify for, repayment terms and installment amount.

All clients will be subject to a credit check and affordability in terms of the NCA (National Credit Act), and all properties will be evaluated prior to approval.

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