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Thread: Bond application - which bank???

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    Bond application - which bank???

    Hi there,

    I want to apply for a bond, nothing big, R 360k over 240months. I have a clear/good credit record and been with employer for over three years.

    Which bank must I apply to? I want to check if there are any government supported bond applications, I earn over their "limits" but still, I dont want to support the big 4 banks...are there any alternatives?

    Thanks

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    Platinum Member pmbguy's Avatar
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    I would suggest SA Home loans personally, but they are underwritten by standard bank though, they hold the most mortgages is SA I think.

    Interesting question though...if not the big 4 banks then who?

    Can one get a better interest rate using somebody/thing else?

    If one has lets say 20% deposit for a 1mil property, do you still need a bank? If no then who?? and why?

    What about asking old eccentric uncle Pete to buy the properly, how would that work? How would you calculate Interest?
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. Charles Darwin

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    Platinum Member sterne.law@gmail.com's Avatar
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    Quote Originally Posted by pmbguy View Post

    What about asking old eccentric uncle Pete to buy the properly, how would that work? How would you calculate Interest?
    Well, being over 500 000 would place it in the purview of the NCA, so uncle will have to register, for his own protection.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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    Roger15 (23-Dec-13)

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    Email problem Phil Cooper's Avatar
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    Go to a bond originator, get them to shop around for you.

    BUT

    UNBREAKABLE RULE

    Do NOT us the Buildings Insurance supplied by the bond holder. Arrange your own elsewhere. You will get it cheaper and with wider covers.

    Particularly SAHL - there is a Facebook link re their Insurance - it does NOT read well!

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