First-time Home Buyer
Our independent bond originators in South Africa have been following the market closely and aim to put your mind at ease as we explain how home owners, landlords, and tenants can still benefit from staying in the property market.
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When selecting insurance policies, you shouldn’t just be concerned with your premiums. It’s more important to know your excesses, exclusions, and potential payouts. A tailor-made and flexible policy will ensure that you are only paying for the things you need.
Self-employed home loan applications are notoriously more difficult to get approved than other types of applicants – but they don’t have to be. In many instances, self-employed purchasers can afford the bond… it’s just about knowing what the banks are looking for in the documentation. Read the information below and then let our experienced bond originators assist you in the way forward - to get the best possible offer, at the bank that is right for you.
When it comes to your home loan application, geography matters. Banks have an area classification risk rating that is factored into the customer’s overall risk assessment. The outcome of this risk assessment is what determines the price of your loan, or the interest rate the bank will offer you.
The bank will assess your application by way of a sustained affordability test – assessing future economic factors as well as current ones. The main ones include interest rates and inflation. Read on to learn more...
An offer to purchase (OTP), sometimes referred to as the sale agreement, is a legally binding contract between the buyer and seller of a property. This document governs the sale agreement entered into by both parties.
What is a credit score? A credit score, also known as a credit rating, is a number that reflects the likelihood of you repaying money you want to borrow. Lenders like banks and credit card companies will look at your credit profile and calculate your credit score based on that information as well as their own, which will show them the predicted level of risk in lending to you.
It’s great to move straight into a newly-built home with brand new furnishings and fittings. But it’s also important to understand the benefits and risks involved with the different types of developments, particularly if you are looking to finance the property with a mortgage bond. How do you determine which one is the best for you? Read on to find out.
The banks’ criteria for the maximum loan-to-value (LTV) depends on the applicant type. LTV is the loan amount offered by the bank, divided by the purchase price of the property.
It’s great to have a selection of home loan quotes to choose from. You can save yourself significant amounts of money in the long-term by choosing the best home loan quote. But how do you determine which one is the best?
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