Bond origination is a relatively new concept in South Africa. It has only been introduced to South Africa about eleven years ago. Bond originators are there to make the application for a home lone process a lot easier, faster and more convenient. In this article we will look at a few benefits that you will get by using a bond originator.
You will see that bond originators will make the application process a lot more convenient for you. In the older days, before the existence of bond originators, for you to apply for a home loan, you would have to physically go visit all the different banks or non-bank lenders, in office hours, to see which one will offer you the best terms and rates. What makes it so convenient is that you can contact a bond originator and ask them to come see you by your own premises. Some of the bond originators can even come see you after office hours. And you only must go through the application process once, regardless of the number of banks and non-bank lenders. They will consult with all of them to get you the best offer.
Another benefit is that bond originators is connected to all the major banks and non-bank lenders in South Africa, ensuring you that you will get offer that will suite your personal circumstances the best, ensuring that you will receive the best terms and rates.
By using a bond originator will ensure that you receive the best possible rates. They will negotiate on behalf of the customer to the banks and non-bank lenders. Bond originators can save you between 0.5% and 0.25% on your home bond costs. That can save you thousands.
By using a bond originator can also save you a lot of time. In some cases, the bond originator will finish an approval process in half the time which the banks or the non-bank lenders can finish the process.
Insurance can also be very expensive in today’s world; thus, can a bond originator save you a lot of money with insurance. Due to the National Credit Act, banks are not allowed anymore to offer home insurance to their clients. The bond originators will then consult with all the different insurance companies to seek out the one that will give you the best fees, terms and conditions that will suit your circumstances.
Also, a very big benefit is that the bond originator won’t charge you a cent for their services. They will get their fees from the banks or non-bank lenders by themselves, saving you more money.
We can conclude and say that by using a bond originator is very beneficial to you and will save you a lot of time and precious money. It makes the home bond application process a lot more less irritating and confusing.
No Agent is a registered bond originator and offers home loans via Standard Bank, FNB, ABSA, Nedbank, Investec and Mercantile Bank.