Mortgage - Bond Origination - Home Loans
It’s no doubt that 2023 was a tough year for real estate - unfavourable selling conditions, characterised by diminished affordability and tighter lending standards, have caused many homeowners to re-evaluate their decisions.
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The banks are charging penalty interest if they are not given 3 months’ notice of intention to cancel a bond. Therefore it is beneficial to notify your bank of your intent to sell as soon as you decide to do so.
Some tidbits from an optimist - could 2024 be the Golden Year in Real Estate in South Africa?
The decision by the Monetary Policy Committee (MPC) of the Reserve Bank not to raise interest rates again has provided a candidate for “good news item of the year”. With a bit of luck and a further drop in inflation over the next two months, rate cuts could occur before year-end.
Buyer prequalifications are the very beginning of a smooth and successful sale process, and as such should not be left to the administrative department. We ensure that all prequals are completed by an experienced consultant to guarantee the feedback is right, relevant, and swift. We'll not only give you a home loan amount, but also advise on LTV and income restrictions. If the buyer is not ready to purchase, we work with them until they are.
The late 1990s and early 2000s witnessed the growth of mortgage origination companies in South Africa. These companies acted as intermediaries between borrowers and lenders, helping borrowers secure mortgage loans by matching them with suitable lenders and assisting with the application process. Mortgage origination companies played a crucial role in increasing competition, streamlining processes, and expanding access to mortgage finance.
Self-employed individuals in South Africa can absolutely obtain a home loan. However, the process may require more documentation and present additional challenges compared to salaried individuals.
A home loan pre-approval provides you with a clear understanding of how much you can afford and helps you focus your house hunting efforts accordingly.
One of the most crucial mistakes potential homebuyers make is failing to adequately prepare their finances before applying for a home loan. Failing to do so may result in loan rejections or unfavorable interest rates.
The closure of deeds offices has a significant impact on the property market. Without the deeds office, property transactions cannot be completed, and buyers and sellers are left waiting. A deeds office closure directly affects the sellers, buyers, property practitioners, attorneys and bond originators.
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