News

What are the best banks for home loans in South Africa?

Article summary:

  • When it comes to finding the best banks for home loans in South Africa, a bond originator will tell you more than any customer satisfaction survey.
  • An independent bond originator will compare home loans for you, giving you access to far more products than if you went direct.
  • Because they are intimately acquainted with the industry, bond originators know which are the best banks for pre-approved home loans too.

Read More

4 Ways to use credit to build wealth

The concept of taking out credit has gotten a bad rap in recent years, following the subprime mortgage crisis in the US and rising levels of indebtedness in South Africa.

However if credit is used in a constructive way, it can prove to be a vital tool in building wealth creation for the future.

Read More

How to get a home loan if your bank declined your application

Article summary:

  • Bond applicants do not get preferential treatment by going direct, as banks are governed by the National Credit Act and lending is regulated.
  • Statistics show that you have a far better chance of obtaining the thumbs up on your home loan application if you go through a bond originator.
  • Home Loan Consultants are successful in securing home loan financing for one in every three applications that are initially turned down by a bank.

Read More

7 Reasons why owning a property is better than renting

Key takeaways

  • There are distinct advantages to owning your own home as opposed to renting someone else’s
  • Owning is beneficial from both a financial and lifestyle point of view
  • Buying a home may seem daunting but there is expert help available every step of the way

Read More

The true cost of buying a house

Wouldn’t it be lovely if the price tag on your new home was all you had to pay? In reality, there are several hidden and not-so-hidden costs associated with buying property. Here are some of the major expenses, to help you prepare.

Read More

How to clear your credit record before applying for a bond

A credit report reflects your financial health: what you spend your income on, whether you can afford the debt you have, and whether any lender has taken legal action against you for non-payment.

In fact, according to experts, a good record of servicing debt is your most important asset when buying a house. This is because it’s the first thing banks look for when considering your bond application. Based on your creditworthiness, a lender can then decide whether to approve your application for a home loan.

Read More

The Advantage of a Deposit

38% of bank approvals are currently subject to a lower offer - there is therefore an increasing need for homebuyers to have a deposit available for a successful application.

The approval and ultimate conversion rate on a 100% LTV bond application is significantly lower than a 90% or lower LTV bond.

Read More

Gaining Access to your Bond

An access bond is a home loan that allows borrowers to pay additional funds into their home loan account, over-and-above the required monthly bond instalment, secure in the knowledge that if they require the funds, they can withdraw them again. It is a tax free savings mechanism and the additional funds can be withdrawn at any time.

Read More

Getting it right, first time

An expert takes pride in his/her professionalism and would never prejudice service delivery to the homebuyer, lead provider or the banks by submitting an application to a bank/s without the required relevant bank’s minimum document requirements to support the application, which has been verified to the information captured...

Read More

Building Loans

A shortfall occurs when a Building Bond is registered for a lesser amount than that of the builder’s contract / tender amount. In order to mitigate the risk the customer must have access to sufficient funds to cater for the difference. Often homebuyers are unable to meet this requirement post registration and transfer as they have not taken this into account, resulting in delays.

Read More

Five Clever Tricks To Reduce Your Home Loan

Homeowners can reduce the term of their homeloan and the total that they pay in with careful budgeting and clever tricks. A house is usually the biggest asset that you will buy in your lifetime, but it's made affordable by the 20-year term of monthly repayments...

Read More

Your bond has been approved. What happens now?

You’ve found your dream home, made an offer, it’s been accepted and your bond has been approved. It’s all extremely exciting, but there’s still a lot that has to happen before you can collect the keys and move in.

Read More

Deposit or 100% bond?

There are many benefits to putting down a deposit for your first home, but in today’s tough economic climate, it may be more realistic to take out a 100% bond. How do you decide what’s best for you?

Read More

House hunting? A prequalification certificate says you are serious about committing to your dream home

Prospective home buyers who obtain a prequalification certificate are doing so much more than just finding out how much they can afford to spend on a house. They are also acquiring a certificate that will build trust between all parties, including the agent and the seller.

Read More

Clear Credit Record Necessary when Applying for a Bond

According to the Credit Bureau Monitor's 2010 4th quarter report only 53.3% (9.90 million) of the 18.51 million credit-active consumers in South Africa were classified as in good standing...

Read More