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

At Mortgage Plus Bond Originators we will apply on your behalf and negotiate the best home loan options between all the major financial institutions and we guarantee you the best home loan interest rates throughout South Africa. In addition to these home loan benefits, we will also negotiate discounts on your bond registration costs. So let us secure you the best home loan deal out there!

Mortgage Plus are what South Africans call Bond Originators or mortgage brokers. Before there were any bond originators like Mortgage Plus cc, you had to go through the process of applying for Home Loans or Mortgages with every single bank individually. You had to go to their office during regular hours. This took extra days and hours of trying to shop for a home loans with interest rates you could live with.

When you hire a bond originator like Mortgage Plus, things work very differently. We will often come to your home, even after normal business hours and take you through the home loan application process and give you the property buyer the best possible home loan advice. This means that you don’t have to spend hours going through the same Home Loan Application process over and over again. “One application for all the banks throughout South Africa”

Mortgage Plus Bond Originators have signed contracts with all of the bigger banks on South Africa as well as many of the smaller independent banks. The thing that is good about this is that when you get the okay from multiple banks, you can choose which one you want because by being able to compare rates and terms you can pick the one that offers you the very best terms.

Mortgage Plus bond originators do all of the negotiating with all of the lenders in order to get you the best home loan deal possible. When all is said and done, the originators can usually get between a 0.5% and 1.0% lower than the current bond prime rate of 9% .

Estimates say that the bond origination industry will save their clients around 5% per year in rate concessions. The Banks In South Africa all know that they have to be very competitive in the home loan market. Mortgage Plus Originators won’t reveal what has been negotiated but will give each of the Banks one final time to bear the best home loan interest rates and terms for the consumer.

It is also a good thing that regardless of all the red tape the National Credit Act causes, Mortgage Plus Bond Originators still manage to take your home loan application through the process of getting approved in just about half  the time it would normally take you if you were approaching the lender or bank directly.

So you not only save on interest rates and get better mortgage terms, but you also save time and we all need to save as much time as we can.

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