Home Loans

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In the market to get a new bond or property loan?

Whether you’re a first-time homebuyer or purchasing your second or third property, Bondfin Assist is here to simplify the process and guide you every step of the way. Buying a home can be a daunting experience, especially for first-time buyers, but with Bondfin Assist, you’re choosing a team of dedicated financing experts who will understand your unique needs. Our goal is to provide you with expert advice, ensuring the entire journey is as smooth and stress-free as possible.

We’re with you every step of the way

Purchasing a new home is one of the most significant financial investments you’ll ever make, and Bondfin Assist is committed to making it a rewarding and informed experience. We equip you with all the knowledge and guidance you need, from understanding mortgage options to finding the best home loan solutions offered by South Africa’s leading financial institutions.

Am I ready to purchase my new home?

Before setting your sights on your dream home, it’s crucial to assess your readiness for such a substantial financial commitment. Key considerations for new bonds include the stability of your income and your ability to manage the costs associated with a bond loan. Whether you’re a salaried employee or self-employed, Bondfin Assist will help you verify your financial standing and calculate how much you can afford.

Things to consider:

Deposit requirements: Some lenders may require a deposit as part of the home loan agreement.

Additional fees: Beyond the loan itself, you’ll need to factor in bond and transfer fees payable to attorneys, as well as ongoing costs like homeowner’s insurance, rates, and taxes.

Debt management: Reducing or eliminating existing debt before applying for a mortgage can increase your chances of approval.

Affordability rules: Financial institutions generally won’t approve new bonds with servicing requirements that exceed 30% of your joint gross monthly income.

By calculating your monthly expenses, including bond repayments and associated costs, you’ll have a clearer picture of what you can afford. Our consultants are here to guide you through this essential step.

Important factors to consider when buying a home

Buying a home is about more than just finding a property—it’s about securing a future that meets your needs.
Consider these key factors before making your decision:

Current And Future Needs

Whether it’s a cozy bachelor flat or a family-sized home, your property should accommodate your current lifestyle and plans.

Location Matters

Ensure the home is in a safe and convenient area near work, schools, shops, and healthcare facilities. Choosing a desirable neighbourhood can also help your property retain or appreciate in value over time.

Safety And Security

In South Africa, location plays a vital role in ensuring the safety of your family.

Extra Income Potential

A property with a rental unit, such as a garden cottage, can provide additional income to offset unexpected expenses.

Once you’ve decided on the location and type of home that best suits your needs, it’s time to start house-hunting. While finding the perfect property can take time, don’t hesitate when you find the one that feels right.

Partner with Bondfin Assist

When you’ve found your ideal home, reach out to Bondfin Assist immediately. We’ll handle your bond approval process, liaising with the major financial institutions to secure the best possible terms. Our strong relationships with South Africa’s top lenders ensure you get competitive rates and a hassle-free experience.

The banks we work with

Why choose Bondfin Assist?

Expert guidance: Our team of professionals will help you navigate the complexities of home financing, from assessing your affordability to finalizing your bond approval.

Time savings: We handle the paperwork and negotiations so you can focus on finding your dream home.

Comprehensive support: From first-time buyers to seasoned homeowners, we cater to clients at every stage of their homeownership journey.

Getting started

Choose an application option

Apply online with your details and we will contact you to explain everything to you in detail and answer all your questions you will have for us to get started with your application.

Alternatively, call our Sales Contact Centre on 011 100 4777 to discuss your home loan solution needs with one of our specialist consultants.

Send us your documentation

You’ll need to provide us with the following documentation:
If you are an employed individual:

  • Proof of income: Payslips for the last 3 months. Whether you are weekly, fortnightly or monthly paid, the 3-month payslip requirement remains (for both applicants or all parties involved in the application, as applicable).
  • Personal bank statements for the last 3 months (for both applicants if applicable).
  • For all loan amounts more than R1,500,000 a statement of personal assets and liabilities.
  • Copy of your ID document (for both applicants if applicable).
  • Copy of Marriage Certificate or ANC Contract (if applicable).
  • Copy of the purchase agreement *
  • Latest 3 months bond statements **
  • Latest rates/Levy/Utility account statement **

Note*: Only required for clients that are applying for a new home/property purchase

If you are self-employed:

  • Proof of income: Letter of Earnings from an Accountant (for all applicants, where applicable).
  • Personal bank statements for the past 6 months (for all applicants if applicable).
  • Personal assets and liabilities statement.
  • Business bank statements for the past 6 months, for all active business banking accounts.
  • Annual Financial Statements for the past 2 financial years.
  • Where Annual Financial Statements are older than 6 months, current Management Accounts not older than 2 months signed by the applicant and accountant, in addition to the Annual Financial Statements.
  • Copy of ID document (for all applicants, where applicable).
  • Copy of Marriage Certificate or ANC Contract.
  • Copy of Registration Documents or Trust Deed.
  • Copy of Purchase Agreement. *
  • 12 months bond statements or copy of title deeds. 
  • Latest rates/levy statement/utility account statement. 

Note*: Only required for clients that are applying for new home/property Purchase 

Credit Approval

The financial services providers will now complete the credit assessment, using the supplied documentation as well as information obtained from a credit bureau regarding your current credit status. If this is all in order, you will receive notification of approval of your bond application. This approval is subject to the completion of the valuation on the property. If there is a problem, you will be contacted by one of our consultants to discuss a possible solution.

Property Valuation

An expert appraiser will arrange an appointment to perform an assessment of the value in the property.

Sign a letter of acceptance

Once the application has been credit approved, we prepare a home loan proposal, called an LOA. This document details the costs, interest rate, indicative instalment and other important information for you to evaluate and sign.

Conveyancing

The national panel of attorneys that is on the bank’s panels will prepare all the necessary bond registration documents and will make an appointment with you to sign them.

Await registration

Registration of your bond at the Deeds Office will take approximately 4 to 6 weeks.

Once your home loan is registered, we will continue to provide you with personalised service and attention, and you will then be able to move into your new house/property.

Are you ready for your new home or property? We will call you back!

Contact us today to discuss your options with one of our trained staff members. Complete the form to have one of our administrators call you back and explain how our services can benefit you, whether you’re looking to buy a home or property.

The process of registering a new purchase bond

Step 1

To start the process the bond attorneys (appointed by the bank registering the bond) request the draft deed and guarantee requirements from the transfer attorneys (appointed by the seller to transfer the property to the buyer’s name) who obtains this from the cancellation attorney (appointed by the bank cancelling the seller’s bond). This information is forwarded to the bond registration attorneys to draft bond documents.

Step 2

The Transfer documents will be arranged to be signed by the buyer and seller.

Step 3

The buyer will pay transfer costs and the transfer attorney pays the rates and taxes, which allows them to obtain a rates clearance certificate from the local municipal council. The transfer attorney also pays the Transfer Duty. Both are legal requirements that must occur for registration to take place.

Step 4

The bond documents are drafted, signed by the buyer and the guarantees are forwarded to the transfer attorneys, who in turn forwards the guarantees to the cancellation attorneys to obtain consent for cancellation from the seller’s bank.

Step 5

Buyer will then pay the bond costs to the bond attorneys.

Step 6

Once all documents have been signed by all the party’s concerned and the costs paid, the transfer, bond and cancellation attorneys arrange for simultaneous lodgement of the documents.

Step 7

Once the deal has been lodged, the Deeds Office takes approximately 7 – 10 working days to process the documents before registration takes place.

Step 8

Payment of the guarantees is made on date of registration of the bond.

Note: The same attorney could be appointed transfer attorney, bond attorney & cancellation attorney.

The registration process typically takes between 4 and 6 weeks to complete. However, delays are possible if some information is not provided.

Delays could be caused by:

  • Failure by the seller and/or buyer to provide personal information.
  • Failure by the seller to provide details of the bank holding the existing bond.
  • The existing bondholder not providing cancellation figures and title deeds to the transferring attorney.
  • Failure to receive rates figures from the local authority and/or clearance certificates.
  • Failure by the buyer to pay a deposit (if required), transfer and/or bond costs on time.
  • The seller/buyer delays the signing of transfer documents and/or bond documents.

Start your journey to homeownership with confidence—let us guide you every step of the way!