In many circles bond originators are in the same popularity category as lawyers and accountants, therefore many people these days are seeking to rather go directly to the banks so that they have more "control" over the application.
Below are the tasks involved in obtaining home loans on your own:
1) You would need to complete at least 5 different application forms if you are hoping to get a fair chance at choosing a competitive package
1.1) This means that you would either physically need to drive or walk from one bank to the other, or, for those who are more Internet savvy, complete online applications.
2) If you have opted for the "going into each bank" route, you would also need to have originals or copies of originals of your bank statements, ID and latest payslip.
2.1) If you have opted for the online application you are going to have to send 5 different faxes and hope and pray they actually receive it. In most cases you are going to have to send your faxes.
3) Phone each bank each day and follow up on the application. It usually takes an average of 4-5 working days to process, so that means you're going to have to phone each bank each day for 4 days, that's 20 phone calls. You also better hope that the home loans department doesn't cut you off, ask you to call later because they're offline, or that they keep you holding so long you HAVE to call again.
4) Should there be complications, or if your application is declined, you have to deal with a call centre, so, because you don't speak to the same person every time you have to explain the story over and over again - hopefully that's not the case at all the banks.
The above is NOT an exaggeration.
The bottom line is, if you don't have a private banker looking after your needs, and in most cases that doesn't even help, it is better to deal with a reputable bond originator that is experienced and is committed to assisting you.
Their service is free and they go through the hassles explained above on your behalf.
If you want to apply for a hassle free home loan then don't hesitate to contact us today on: info[at]gpfmortgage.co.za (replace the [at] with @)
Showing posts with label sahomeloans. Show all posts
Showing posts with label sahomeloans. Show all posts
Monday, January 3, 2011
Saturday, August 28, 2010
Home Loans Made Easy
To view all my Home Loans related articles, click the link or ask my any related question on http://gpfmortgage.co.za/contactus.html
http://ezinearticles.com/?expert=Zulika_Van_Heerden
http://ezinearticles.com/?expert=Zulika_Van_Heerden
Tuesday, August 17, 2010
Interest Rate Hike Warning!!!!
In the latest Property Barometer newsletter, Johan Loost, property strategist at FNB has warned of possible interest rate hikes in the future.
What does that mean to you? So where to from here?
Well, he suggests that now is a time to tread with caution for a few reasons:
• Firstly, at 10% prime, history suggests that we may be at or near to the bottom of the interest rate cycle.
Interest rates will go up at some point. History also tells us that recent rate hiking cycles have been by 4 to 5 percentage points.
It is essential to be pro-active and make financial provision for the possibility of a 4-5 percentage point interest rate increase at some point in future, and if you cannot fund such an increase, rethink expenditure commitments.
• Secondly, there is the important issue of massive future hikes in Eskom tariffs in the next 2 years, and similar increases in municipal rates and other utilities’ tariff cannot be ruled out, given the need for big infrastructure upgrades in the coming years.
I would suggest that significant provision be made for such household-related
cost increases in the coming years too.
These are the comments of Johan Loos, if you require advice on your home loan or how to consolidate your debt into a current bond, don't hesitate to contact me:
http://gpfmortgage.co.za/contactus.html
What does that mean to you? So where to from here?
Well, he suggests that now is a time to tread with caution for a few reasons:
• Firstly, at 10% prime, history suggests that we may be at or near to the bottom of the interest rate cycle.
Interest rates will go up at some point. History also tells us that recent rate hiking cycles have been by 4 to 5 percentage points.
It is essential to be pro-active and make financial provision for the possibility of a 4-5 percentage point interest rate increase at some point in future, and if you cannot fund such an increase, rethink expenditure commitments.
• Secondly, there is the important issue of massive future hikes in Eskom tariffs in the next 2 years, and similar increases in municipal rates and other utilities’ tariff cannot be ruled out, given the need for big infrastructure upgrades in the coming years.
I would suggest that significant provision be made for such household-related
cost increases in the coming years too.
These are the comments of Johan Loos, if you require advice on your home loan or how to consolidate your debt into a current bond, don't hesitate to contact me:
http://gpfmortgage.co.za/contactus.html
Wednesday, May 12, 2010
Absa Home Loans 100% Loan Rumor
There are rumor's that ABSA will also soon be giving 100% loans to their account holders again. How true that is remains to be seen.
As per my last post, it's still only FNB and Nedbank that offer 100% home loans, so if ABSA does come to the party that gives you, the client, more options to choose from.
Remember, working through a bond originator gives you the stress free way of only sending through your documents ONCE and they send it through to the various banks simultaneously.
Also remember to choose your bond originator wisely. Ask them questions. What options will they be giving you? Only the 4 major banks? A connected bond originator would always give clients an unbiased service, not only limited to the 4 major banks, but also some non-bank alternatives, like SA Home Loans.
Don't forget - ask, because you're going to be paying that loan at the end of the day and you want to know that you've had options to choose from and that you've got the best deal possible.
To apply for a home loan, including SA Home Loans, contact us today!
As per my last post, it's still only FNB and Nedbank that offer 100% home loans, so if ABSA does come to the party that gives you, the client, more options to choose from.
Remember, working through a bond originator gives you the stress free way of only sending through your documents ONCE and they send it through to the various banks simultaneously.
Also remember to choose your bond originator wisely. Ask them questions. What options will they be giving you? Only the 4 major banks? A connected bond originator would always give clients an unbiased service, not only limited to the 4 major banks, but also some non-bank alternatives, like SA Home Loans.
Don't forget - ask, because you're going to be paying that loan at the end of the day and you want to know that you've had options to choose from and that you've got the best deal possible.
To apply for a home loan, including SA Home Loans, contact us today!
Tuesday, October 6, 2009
Standard Bank Home Loans Made Easy
When you are in the process of applying for a home loan, it is difficult to know where to turn. The various banks are offering various products. Let's have a quick look at what Standard Bank Home Loans are offering.
If you are purchasing a new property you can either apply for a Dream Start home loan or a Ordinary loan.
Dream Start: Standard Bank Home Loans is trying to make it easier for, what they refer to as, “entry level income earners”. You fall under this category if you earn a salary of between R1 500 and R6 000 per month. You can apply for this product whether you are buying a new home or building a new home.
If your single or joint income is more than R6 000 per month, you would apply for an Ordinary home loan. You can choose between a 20 or 30 year term. In recent times we are seeing very sudden changes with regards to deposits needed when buying a new property. Currently, Standard Bank Home Loans department will require a 5% deposit.
Standard Bank Home Loans are also offering something called Affordable Housing. This means that if your joint gross monthly income is less than R15 142 you can apply for a bond of up to 100% of the purchase price, no deposit needed. In addition to this, if you are a first time buyer you can apply for a 104% bond. This means no deposit needed, and the fees involved will also be covered by the bond.
You can apply for an Access Bond, whether you are applying for a Standard Bank Home Loans Dream Start or an Ordinary home loan. This will enable you to pay off your bond quicker, and save large amounts on the interest rate. This will also give you access to additional funds paid into the account, or funds that you haven't withdrawn from the account.
However, you need to have a Standard Bank account to apply for an Access Bond.
You can choose a variable rate or a fixed rate, when applying for a bond with Standard Bank Home Loans. A variable rate will let you benefit if the prime rate is lowered. However, if the rate increases, so will your installments. A fixed rate will give you a fixed installment. So even if the prime rate goes up, your installment will remain the same. But on the other hand, if the prime rate goes down, you will not benefit from this.
If you want to apply for a bond with Standard Bank Home Loans you can either apply via Standard Bank's website, call the home loan's department, apply at one of the branches, or, you can apply through a professional bond originator who will do the application on your behalf.
Well, I know that is a lot for you to take in so I am happy to spend some time with you and answer any questions you have about getting a Standard Bank Home Loans and making sure your SA Home Loan. You are welcome to contact my office at 086 110 6204 or send me a personal email at: info@gpfmortgage.co.za
If you are purchasing a new property you can either apply for a Dream Start home loan or a Ordinary loan.
Dream Start: Standard Bank Home Loans is trying to make it easier for, what they refer to as, “entry level income earners”. You fall under this category if you earn a salary of between R1 500 and R6 000 per month. You can apply for this product whether you are buying a new home or building a new home.
If your single or joint income is more than R6 000 per month, you would apply for an Ordinary home loan. You can choose between a 20 or 30 year term. In recent times we are seeing very sudden changes with regards to deposits needed when buying a new property. Currently, Standard Bank Home Loans department will require a 5% deposit.
Standard Bank Home Loans are also offering something called Affordable Housing. This means that if your joint gross monthly income is less than R15 142 you can apply for a bond of up to 100% of the purchase price, no deposit needed. In addition to this, if you are a first time buyer you can apply for a 104% bond. This means no deposit needed, and the fees involved will also be covered by the bond.
You can apply for an Access Bond, whether you are applying for a Standard Bank Home Loans Dream Start or an Ordinary home loan. This will enable you to pay off your bond quicker, and save large amounts on the interest rate. This will also give you access to additional funds paid into the account, or funds that you haven't withdrawn from the account.
However, you need to have a Standard Bank account to apply for an Access Bond.
You can choose a variable rate or a fixed rate, when applying for a bond with Standard Bank Home Loans. A variable rate will let you benefit if the prime rate is lowered. However, if the rate increases, so will your installments. A fixed rate will give you a fixed installment. So even if the prime rate goes up, your installment will remain the same. But on the other hand, if the prime rate goes down, you will not benefit from this.
If you want to apply for a bond with Standard Bank Home Loans you can either apply via Standard Bank's website, call the home loan's department, apply at one of the branches, or, you can apply through a professional bond originator who will do the application on your behalf.
Well, I know that is a lot for you to take in so I am happy to spend some time with you and answer any questions you have about getting a Standard Bank Home Loans and making sure your SA Home Loan. You are welcome to contact my office at 086 110 6204 or send me a personal email at: info@gpfmortgage.co.za
Monday, September 28, 2009
SA Home Loans – Are You Paying too Much Per Month?
Face it; the manager at your bank is not going to help you decrease your monthly home loans installments. Why should they?
Are you finding yourself having to deal with various issues with SA home loans, credit cards and personal loan installments? A huge problem with rising debt is that it becomes more and more difficult to pay off only the interest, not to mention the debt capital itself.
If you are a normal South African, you are probably balancing work, putting out fires, working long hours and dealing with other issues, and the last thing on your mind is thinking about saving money on home loans.
The last thing you have time for is wasting time in a bank or talking to a call centre consultant.
SA Home Loans Issues SA Home Owners Have- So Where Can We Find The Solution?
Imagine…you are able to save a lot of money on your home loan, and at long last you are able to put away money for savings!...Less stress and your family’s financial future is secure.
It probably sounds too good to be true, but, if you have the right tools, information and resources, it will come true.
It’s said that the first step to overcoming a challenging situation is to acknowledge that there is a problem and that a change is needed.
If you continuously do the same things over and over again you’ll keep getting the same results.
As South Africans, we pay too much for debt, especially SA home loans. We often do not realize what effect higher interest rates have on our finances.
Friday, September 25, 2009
Are SAhomeloans Difficult To Qualify For?
If you have tried applying for sahomeloans on your own you might have found that it’s difficult to get your homeloan approved.
What can you do to easily qualify for sahomeloans? By following these 3 easy guidelines you’ll be able to get your dream home soon.
SAhomeloans tip no. 1: Pay your debts on time
Did you know that companies no longer accept payments by the 7th of the month? If your statement says that you must pay by the 1st or by the 3rd, then that’s the day the payment is due.
If you don’t pay by that date the company may list you as a slow or erratic payer which may hamper you getting approved for sahomeloans with ease.
SAhomeloans tip no. 2: Don’t make additional debt
It may seem obvious, but to qualify for sahomeloans you should make extra debt when applying for a homeloan.
Making extra debt means that your credit score will decrease.
Why? Well each company you approach will do a credit check, and every time that happens your credit worthiness decreases because of all these credit enquiries.
SAhomeloans tip no. 3: Save for a deposit
Even though it looks like the banking industry is easing up on their lending criteria you should still save up for a deposit.
How do you save during these tough times? Well, work out how much you will be spending per month on a bond installment if you buy and use the difference between that and what you’re currently paying for rent and save that.
Doing this will achieve 2 goals. Firstly you will be able to save this difference and use it as a deposit, and secondly and most importantly you will know if you will be able to afford the monthly homeloan installment.
In a few months time that may work out to enough for a 5 or 10% deposit on a house.
Click for more information on how to qualify for sahomeloans.
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