Finance

It is imperative and advisable that purchasers know what amount of finance they would qualify for prior to embarking on the exciting journey of house hunting. The benefits of having this knowledge prior to making an offer on a property include:

• Being in a more prepared and thus more powerful position at the price negotiating stage with a seller. On average, South African lending institutions would allow at the most 30% of total household gross income towards a bond (mortgage) payment.
• Being able to focus only on the properties that are available in the price range that you as a purchaser qualify for will make your house hunting more relevant and more realistic instead of going on a “wild goose chase”

It is also important to know that banks and lending institutions compete for your business. Therefore by tendering your requirements to a range of lenders and not only your existing retail bank will allow you to pick and choose which finance package would suit you the most. For this, the most effective way would be to appoint a Bond (Mortgage) Originator where from just a single application to them they then would approach the various lending institutions on your behalf for the best finance package for you.

It is one channel, it’s simple, it’s convenient, it’s not an administrative nightmare and it does not cost a purchaser anything.
CENTURY 21 South Africa has an association with a Bond Choice who is leading bond originating company and they may be accessed through any one of our agents or offices nationally.