Your Questions, Answered
Specific Scenarios Considered
Yes! With a well-documented application and accurate information obtained at a proper consultation. We have been very successful with self-employed individuals with a varied income stream.
A tax return reflects the amount you pay tax on and is not a precise indicator of money in the Bank. SARS allows certain tax deductions as some expenses can be deducted from the income of self-employed individuals. Don’t pay more tax to qualify, just supply a well compiled application.
Yes, depending on what type of judgement and the amount. Sometimes judgements are taken by companies without your knowledge and are easily settled and explained. A judgement for a homeloan can however create problems.
Yes, except if the company or trust is trading and earning income. There are however certain restrictions on bonds for trading entities.
The Banks have very strict criteria for suretyships and mostly allow you to stand surety for your spouse.
- Congratulations on your bond approval you most probably would like to know what happens next?
- Accept the bond approval of your choice in writing and return to us via mail;
- Upon receipt of acceptance from us, the bank will instruct the bond attorney;
- The bond attorney is selected by the Bank to attend to the registration of a valid and enforceable bond;
Applying for a Bond
Bond calculators don’t ask enough questions and are generic. We have spent the better part of 15 years to study the bank systems and red tape. Some fringe benefits can be added to your salary and sometimes not all your commission is taken into consideration. In House Bond Brokers can give you an accurate indication of what you qualify for.
Between 60 -80 % of the value of the land depending on the Bank you apply to and where you bank. If you simultaneously apply for a building loan, a 100% of the value of the land can be obtained. Approved plans and NHBRC certificates to be provided.
- Detailed approved building plans
- Building contract
- Copy of builders NHBRC Registration Certificate
- Copy of builders NHBRC Enrolment Certificate
- Schedule of finishes from builder
- Quotation for the entire building work and breakdown of costs from builder
Yes, depending on your age and which bank your home loan is placed with.
Rate Concessions are determined by your scoring which involve more “tick boxes” than your credit score. Ultimately it is based on a risk-evaluation. Due to the fact that the interest rates are quite low at the moment, concessions are not very big. Depending on the loan to value we can give an estimate.
Some commonly used terms explained
After the Bank has assessed your financial position, an approval in principal is granted, subject to a satisfactory valuation. The final rate and conditions will appear in the final grant once the valuation has been completed.
This is 25% of the loan amount and is a separate amount stipulated in your bond document as security for costs should you default and the Bank has to attach and sell the property to recover the loan amount. This amount is not taken into account when calculating your monthly instalment.
In 1998 the prime interest was 24 %, in comparison to the 10% in October 2019. The concession is the amount below prime afforded to you based on your scoring. In 1998 a concession of prime minus two was granted to high profile clients, but with a lower interest rate concessions become smaller even if you are a high profile client with a good scoring.
Most Bond Attorneys will not lodge in the Deeds Office if the transfer costs is not paid.
The service provided by a bond broker is not for your cost.
Nobody wants to deal with call centres or mail the same documents ten times.
Explain once, get the attention, advice and time you deserve.
Knowledge is power –use an expert to assist.
- Scoring is not a puzzle or some thumb suck number.
- Scoring is based on a multitude of tick boxes and information gathered by the Banks on your financial profile.
- Scoring is more than just your credit score on Experian or ITC, but maths formulas have been applied by actuaries to determine risk vs return.
- You however have the power to improve your scoring over a period of time.
- We have learnt over a period of more than 18 years to present your position in the most favourable way, staying compliant to the NCA.
Specific Scenarios Considered
Yes! With a well-documented application and accurate information obtained at a proper consultation. We have been very successful with self-employed individuals with a varied income stream.
A tax return reflects the amount you pay tax on and is not a precise indicator of money in the Bank. SARS allows certain tax deductions as some expenses can be deducted from the income of self- employed individuals. Don’t pay more tax to qualify, just supply a well compiled application.
Yes, depending on what type of judgement and the amount. Sometimes judgements are taken by companies without your knowledge and are easily settled and explained. A judgement for a homeloan can however create problems.
Yes, except if the company or trust is trading and earning income. There are however certain restrictions on bonds for trading entities.
The Banks have very strict criteria for suretyships and mostly allow you to stand surety for your spouse.
- Congratulations on your bond approval you most probably would like to know what happens next?
- Accept the bond approval of your choice in writing and return to us via mail;
- Upon receipt of acceptance from us, the bank will instruct the bond attorney;
- The bond attorney is selected by the Bank to attend to the registration of a valid and enforceable bond;
Applying for a Bond
Bond calculators don’t ask enough questions and are generic. We have spent the better part of 15 years to study the bank systems and red tape. Some fringe benefits can be added to your salary and sometimes not all your commission is taken into consideration. In House Bond Brokers can give you an accurate indication of what you qualify for.
Between 60 -80 % of the value of the land depending on the Bank you apply to and where you bank. If you simultaneously apply for a building loan, a 100% of the value of the land can be obtained. Approved plans and NHBRC certificates to be provided.
- Detailed approved building plans
- Building contract
- Copy of builders NHBRC Registration Certificate
- Copy of builders NHBRC Enrolment Certificate
- Schedule of finishes from builder
- Quotation for the entire building work and breakdown of costs from builder
Yes, depending on your age and which bank your home loan is placed with.
Rate Concessions are determined by your scoring which involve more “tick boxes” than your credit score. Ultimately it is based on a risk-evaluation. Due to the fact that the interest rates are quite low at the moment, concessions are not very big. Depending on the loan to value we can give an estimate.
Some commonly used terms explained
After the Bank has assessed your financial position, an approval in principal is granted, subject to a satisfactory valuation. The final rate and conditions will appear in the final grant once the valuation has been completed.
This is 25% of the loan amount and is a separate amount stipulated in your bond document as security for costs should you default and the Bank has to attach and sell the property to recover the loan amount. This amount is not taken into account when calculating your monthly instalment.
In 1998 the prime interest was 24 %, in comparison to the 10% in October 2019. The concession is the amount below prime afforded to you based on your scoring. In 1998 a concession of prime minus two was granted to high profile clients, but with a lower interest rate concessions become smaller even if you are a high profile client with a good scoring.
Most Bond Attorneys will not lodge in the Deeds Office if the transfer costs is not paid.
The service provided by a bond broker is not for your cost.
Nobody wants to deal with call centres or mail the same documents ten times.
Explain once, get the attention, advice and time you deserve.
Knowledge is power –use an expert to assist.
- Scoring is not a puzzle or some thumb suck number.
- Scoring is based on a multitude of tick boxes and information gathered by the Banks on your financial profile.
- Scoring is more than just your credit score on Experian or ITC, but maths formulas have been applied by actuaries to determine risk vs return.
- You however have the power to improve your scoring over a period of time.
- We have learnt over a period of more than 18 years to present your position in the most favourable way, staying compliant to the NCA.
Seasoned experience, insider knowledge and skilful negotiations strengthens our reaching power with the banks.
We are dedicated to giving every client personalised professional attention.
Whether you are self-employed, salaried or have several sources of income we have the flexibility to create a tailor-made mortgage bond suited to your particular circumstances.
Seasoned experience, insider knowledge and skilful negotiations strengthens our reaching power with the banks.
We are dedicated to giving every client personalised professional attention.
Whether you are self-employed, salaried or have several sources of income we have the flexibility to create a tailor-made mortgage bond suited to your particular circumstances.
Join Over 12,000,000 South Africans With A Bond
It’s within your reach, all you have to do is talk to us.
Join Over
12,000,000 South Africans
With A Bond
It’s within your reach, all you have to do is talk to us.