Why use a Bond Originator?

The home loan / Bond Finance market in South Africa has, over the past few years, become extremely competitive. Not only are the number of mortgage providers in South Africa increasing, but competition among the four major bond providers has really started to heat up.

One reason for this is because the bond origination industry has finally arrived in South Africa. Bond origination has existed for many years overseas and it’s partly because of bond originators that competing banks have been forced to offer better service and better mortgage products.

Through its unique relationship with banks a SA Mortgage Originator is able to apply to multiple banks and get your application approved faster.

Benefits of using a Bond Originator:
1. You don’t need to go through the application process with every bank. The originator will collect all the necessary documentation and setup your application to ensure the process is a smooth one.

2. You only need to complete one application, which will be submitted to different banks. After your approvals are received from the different banks its up to you to decide which bank your wish to go with.

3. Better rates: Because we have a strong relationship with all the major banks we are able to negotiate a lower rate on your bond – which will save you thousands over the term of the home loan.

4. Free Service: Probably the best feature of the bond origination industry is that the service offered is totally free. The bank pays the originator and these costs are not passed on to the client.

Mortgage Innovations is one of the top online mortgage originators in South Africa. They are also able to offer you some very nice bonuses and discounts, such as:

Discounted bond fees

Really Fast Approvals

and best of all, this service is completely free of charge.

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Complete this short form online
Call us on 0861 111 563
Email: olen@propertyloans.co.za

Date Posted: Oct 24, 2005
In Categories: Bond Originators, Home Loan Features, Home Loan Tips
Related Tags: Bond Originators

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15 Comments For This Post

Barnabas Says:
November 21st, 2005 at 1:32 pm

How can I check whether I’m blacklisted or not.

Reply:

Hi Barnabas,

You can check your credit rating and whether you’re blacklisted or not through a company called Credit Health. Visit CreditHealth online

Roshan Says:
September 4th, 2006 at 12:17 pm

I would like to know how does one become or study to become a bond Originator?
What qualification are required and when and where can one attend courses?

Reply:
Hi Roshan

More information can be found on the National Association of Mortgage Originators (NAMO) website scroll down to the bottom of the page to find the Training module.

Omar Lawrence Says:
April 27th, 2007 at 10:22 am

I am currently in the process of applying for business finance. My business advisor gave a number of options which included me seeing a bond originator.

How do I go about completing an application through a bond originator?

Reply:
Hi Omar,

As a bond originator we are able to assist you in all things related to home finance. If you wish you can apply for a further bond on your existing property – this can then be used to finance your business.

Tsholofelo Says:
January 2nd, 2008 at 10:38 am

Hi there, I’m already a registered bond owner. i’m already on a 30 year payback period with ABSA. i would like to find out if there is any other way i can reduce my bond payments. i bought the house for R640 000 and (don’t remember what my lending rate/percentage was). with the latest rate hike, i’m now paying close to R7000 for my bond and i feel it’s a bit much. please help!

Reply:
Hi Tsholofelo,

As you are currently on a 30year term your best option would be to renegotiate your interest rate. The smallest difference will save you thousands over the term of your home loan.

Bond Originator Says:
March 10th, 2008 at 3:01 pm

Well to be totally honest the reason you had a lower rate than most from day dot is because you’ve got a bond over 30 years. My suggestions would be as follows:

1. Pay a little more than your monthly home loan rate every month.
2. Try and drop it from a 30 year bond to a 20 year bond (if you can)
3. Ensure your bond is an access bond.
4. Go into your bank and tell them you’d like a better rate for being a reliable client and consitent payer.

It works!!

Leon de Kock Says:
May 28th, 2008 at 6:33 pm

People have told me that ABSA are requiring up to date building plans to be shown when applying for a bond. Can you tell me any more about this? Are other banks doing this, or perhaps planning to do this.

Charles Says:
May 27th, 2009 at 3:33 pm

Bond originators can be a great “tool” when you are buying property, but beware of the dishonest ones – always phone the banks a few days after you’ve given your application to a bond originator to make sure they have shopped around. I used a bond originator with the last property I bought, and was told that only one bank “approved” my application – when I phoned my own bank to find out why they “declined” it, they never received it – nor did other banks.

Bond Originator South Africa Says:
May 27th, 2009 at 3:53 pm

Hi Charles,
I agree, when it comes to applying for property finance, you need to be careful who you are dealing with.

Our consultants are always very open and honest with our clients. All feedback (good or bad) we receive from the various banks, is forwarded directly to our clients.
That way, you are always kept up to date on your application status.

We received a wonderful email today from one of our clients in Australia, describing how she struggled initially dealing with the banks directly.
And how our service surprised her – pleasantly .

I hope to post on the testimonial on the site soon.

Update:
You can find the testimonial here.

CHETAN Says:
June 12th, 2009 at 7:56 am

I am a first time buyer and would like to know what’s the best interest rate that i would qualify for and how do i go about and fight for a lower interest rate

Bond Originator South Africa Says:
June 12th, 2009 at 11:49 am

Hi Chetan,
We usually begin the process of securing homeloans for our clients by requesting an Interest Rate Quotation from the various banks.
After your application is submitted and we have received favourable responses, we are able to negotiate the rates between the participating lenders.

ROSHILLA Says:
October 12th, 2009 at 2:37 pm

PLEASE ADVISE AS TO HOW THE BOND INITIATION FEE IS CALCULATED. I HAVE JUST BEEN QUOTED R5700.00 ON A NEW BOND OF R342000.00. I ALREADY HAVE AN EXSISTING BOND WITH THE SAME BANK WHICH IS NEARLY PAID UP. MY CURRECT INTEREST RATE IS 9.25% ON MY EXISTING BOND AND 10.10% ON MY NEW BOND…..PLEASE ADVISE DESPERATE!!!

Nazarine Says:
October 28th, 2009 at 3:07 pm

Could you please advise me on the following…

Can one apply for a bond on a members statement, even though it is registered on the trust’s name?

Bond Originator South Africa Says:
October 30th, 2009 at 9:07 am

@Nazarine, You are able to apply for a bond as a trustee of a trust. When calculating your affordability, the banks will consider your income from the trust. They may request the financials and detailed management accounts for the trust, before granting the mortgage.

Teajea Says:
November 27th, 2009 at 4:59 pm

We applied for a homeloan and meet all the credit act requirements. We are approved for only 90% of our loan we submitted why not better? We are first time buyers. And have no other debt.

Gino S Says:
November 28th, 2009 at 12:01 pm

Hi Teajea. If you like, we can take a closer look at your application and see if we can get a better deal for you. Please complete our short application form online.

Barnabas Says:
November 21st, 2005 at 1:32 pm
How can I check whether I’m blacklisted or not.

Reply:

Hi Barnabas,

You can check your credit rating and whether you’re blacklisted or not through a company called Credit Health. Visit CreditHealth online
Roshan Says:
September 4th, 2006 at 12:17 pm
I would like to know how does one become or study to become a bond Originator?
What qualification are required and when and where can one attend courses?

Reply:
Hi Roshan

More information can be found on the National Association of Mortgage Originators (NAMO) website scroll down to the bottom of the page to find the Training module.
Omar Lawrence Says:
April 27th, 2007 at 10:22 am
I am currently in the process of applying for business finance. My business advisor gave a number of options which included me seeing a bond originator.

How do I go about completing an application through a bond originator?

Reply:
Hi Omar,

As a bond originator we are able to assist you in all things related to home finance. If you wish you can apply for a further bond on your existing property – this can then be used to finance your business.
Tsholofelo Says:
January 2nd, 2008 at 10:38 am
Hi there, I’m already a registered bond owner. i’m already on a 30 year payback period with ABSA. i would like to find out if there is any other way i can reduce my bond payments. i bought the house for R640 000 and (don’t remember what my lending rate/percentage was). with the latest rate hike, i’m now paying close to R7000 for my bond and i feel it’s a bit much. please help!

Reply:
Hi Tsholofelo,

As you are currently on a 30year term your best option would be to renegotiate your interest rate. The smallest difference will save you thousands over the term of your home loan.
Bond Originator Says:
March 10th, 2008 at 3:01 pm
Well to be totally honest the reason you had a lower rate than most from day dot is because you’ve got a bond over 30 years. My suggestions would be as follows:

1. Pay a little more than your monthly home loan rate every month.
2. Try and drop it from a 30 year bond to a 20 year bond (if you can)
3. Ensure your bond is an access bond.
4. Go into your bank and tell them you’d like a better rate for being a reliable client and consitent payer.

It works!!
Leon de Kock Says:
May 28th, 2008 at 6:33 pm
People have told me that ABSA are requiring up to date building plans to be shown when applying for a bond. Can you tell me any more about this? Are other banks doing this, or perhaps planning to do this.
Charles Says:
May 27th, 2009 at 3:33 pm
Bond originators can be a great “tool” when you are buying property, but beware of the dishonest ones – always phone the banks a few days after you’ve given your application to a bond originator to make sure they have shopped around. I used a bond originator with the last property I bought, and was told that only one bank “approved” my application – when I phoned my own bank to find out why they “declined” it, they never received it – nor did other banks.
Bond Originator South Africa Says:
May 27th, 2009 at 3:53 pm
Hi Charles,
I agree, when it comes to applying for property finance, you need to be careful who you are dealing with.

Our consultants are always very open and honest with our clients. All feedback (good or bad) we receive from the various banks, is forwarded directly to our clients.
That way, you are always kept up to date on your application status.

We received a wonderful email today from one of our clients in Australia, describing how she struggled initially dealing with the banks directly.
And how our service surprised her – pleasantly .

I hope to post on the testimonial on the site soon.

Update:
You can find the testimonial here.
CHETAN Says:
June 12th, 2009 at 7:56 am
I am a first time buyer and would like to know what’s the best interest rate that i would qualify for and how do i go about and fight for a lower interest rate
Bond Originator South Africa Says:
June 12th, 2009 at 11:49 am
Hi Chetan,
We usually begin the process of securing homeloans for our clients by requesting an Interest Rate Quotation from the various banks.
After your application is submitted and we have received favourable responses, we are able to negotiate the rates between the participating lenders.
ROSHILLA Says:
October 12th, 2009 at 2:37 pm
PLEASE ADVISE AS TO HOW THE BOND INITIATION FEE IS CALCULATED. I HAVE JUST BEEN QUOTED R5700.00 ON A NEW BOND OF R342000.00. I ALREADY HAVE AN EXSISTING BOND WITH THE SAME BANK WHICH IS NEARLY PAID UP. MY CURRECT INTEREST RATE IS 9.25% ON MY EXISTING BOND AND 10.10% ON MY NEW BOND…..PLEASE ADVISE DESPERATE!!!
Nazarine Says:
October 28th, 2009 at 3:07 pm
Could you please advise me on the following…

Can one apply for a bond on a members statement, even though it is registered on the trust’s name?
Bond Originator South Africa Says:
October 30th, 2009 at 9:07 am
@Nazarine, You are able to apply for a bond as a trustee of a trust. When calculating your affordability, the banks will consider your income from the trust. They may request the financials and detailed management accounts for the trust, before granting the mortgage.
Teajea Says:
November 27th, 2009 at 4:59 pm
We applied for a homeloan and meet all the credit act requirements. We are approved for only 90% of our loan we submitted why not better? We are first time buyers. And have no other debt.
Gino S Says:
November 28th, 2009 at 12:01 pm
Hi Teajea. If you like, we can take a closer look at your application and see if we can get a better deal for you. Please complete our short application form online.