If your services are free, how are you compensated?

We are paid by the bank whose home loan quotation you accept. We are contracted to all four major banks in South Africa as well as Investec, Rand Merchant Bank (RMB) and Sentinel Homes.

When purchasing a property what costs am I liable for?

You will be liable for the legal costs relating to the transfer of the property and the mortgage bond registration. Furthermore, there is the bank initiation fee.

How much funds should I set aside for the costs?

Unfortunately, we are not able to give you an indication until we know the value of the property you wish to purchase and the size home loan you require. Contact us to discuss your intentions and budget and we will be in a better position to give you more accurate response.

What documents will be required for a home loan application?

You will have to provide us with proof of identity, proof of income and proof of ownership or a copy of a signed offer to purchase. These documents differ from individual to individual and best you discuss your specific circumstances with us.

I am self-employed, will the banks consider granting me a home loan?

Provided all the financial documents are in order and affordability is evident, the banks do finance self-employed individuals. We specialise in this category home buyer with approximately 85% of our home loan applications are from entrepreneurs.

I have a poor credit record. Will I qualify for a home loan?

This is a difficult question to answer generically, as each application is assessed on individual merit and risk profile. It will play in your favour if you can prove that all outstanding debt, previously written off and in arrears, has been settled. You may also require a deposit of 10% to 20% to make the transaction work.

Will the banks consider granting a non-South African citizen a home loan?

Yes, they do but the criteria applied to each individual is very specific. Please contact us for additional information relating to your particular circumstances.

What size deposit will be required?

While the banks do grant 100% home loans, the deposit (if any) required will be determined based on your risk profile. If you do require a 100% home loan, sign the offer to purchase subject to this and allow our consultants to apply their expertise and knowledge in meeting with this requirement.

What interest rate can I expect?

The interest rate that banks offer you is based on current economic conditions, the size of deposit you put down, the ratio of your monthly home loan instalments to your income, your credit scoring and your risk profile. Due to so many factors influencing the interest rate offered, we are unable to give you an accurate prediction. However, we can guarantee that you will receive the absolute best interest rate applicable to your application.

Should I fix the interest rate?

The fixed interest rate quoted is not the same as the normal variable interest rate. The bank will only consider fixing your interest rate once the mortgage bond has registered. Ask the bank for a quotation before making a decision.

How long does the application process take?

Once we have received all your supporting documents and signed application form, we will submit your application on the same day, provided it is a working day and the home loan application was received before 16h30. One of our agreed terms of business with the banks is that they must communicate with us within 3 days of receipt of the completed home loan application. To make provision for the unforeseen, you should cater to have your home loan in place within 21 days.

Once my home loan has been approved, how long will it take for the property to register into my name?

On average it takes 2 ½ to 3 months, from placing an offer to registration of transfer, for the whole process to be completed.