Types of Loans

1) New HomeLoan - purchase. – This is where one person or more make an offer to purchase a property where there is a condition to obtain a bond. We work with the client, the estate agent, the attorneys and sometimes the seller in managing the process of securing that loan. Clients come directly to us, or are referred by an affiliated agency. Under this category also comes first time homebuyers, for whom the banks have tailored products. Costs can be included up to 8% of purchase price. Recently banks have even extended this product to 2nd and 3rd time buyers.

2) New HomeLoan – Existing property – If a client already owns a property which is un-bonded, we can take a first bond on this property for him/her.

3) Further Bonds – If a client has an existing HomeLoan with a bank, we can arrange an additional loan with that bank on the property. This may be done to do alterations, consolidate debt, pay for a vehicle, or even a wedding or holiday. Loans like this register faster than new purchases.

4) Building loans – This may also be alterations, but mostly refers to building a new home. This complicated and widely misunderstood product can be highly taxing on clients already under stress from planning to build their dream home. We take on the whole task and help put the confusion back to order. Banks have strict criteria ad being well prepared for this is half the battle won. We can advise on potential pitfalls, and help gather all the supporting documents the banks require.

5) Switches. We do not promote clients switching banks. We prefer to see if we can assist them with the bank they are already with. Lures of lower rates, increased bonds often don’t mention other inconveniences such as early settlement penalties, transactability issues and more. Where a switch is necessary for some reason, we can assist in recommending which bank to try, and what that bank can offer in the bigger picture like banking services. Intelligent management of any HomeLoan can save you far more than a few points in interest rate, plus benefits lost by changing banks which are not mentioned when being sold on it, can be very disappointing when found to be lacking.

6) Loans can be applied for in personal capacities, jointly (as many co-applicants as client wishes), in cc’s and companies, trusts and with surety. Supporting documents required changes according to what legal entity is applying.

Types of property we can secure loans on: 1) Freehold property (normal single house) 2) Sectional title (flats, townhouses) 3) Vacant Land 4) Smallholdings less than 8.5Ha 5) Farms

We cannot apply for: 1) Real right loans 2) Shareblock or similar schemes 3) Non-profit organizations such as churches. 4) Insolvent clients. 5) B&B’s (most banks don’t like these as security but there are exceptions)