Does Better Bond Offer Home Loans to Cape Town Residents? Contact Details, Queries and Requirements.
You may be in that time in your life in which you are trying to purchase a house and you need to decide which bank to work with. There’s a lot to take into account and you start asking yourself many questions: what are the requirements for a home loan? How can I contact the bank? What kind of loan fits me? Can I apply for a home loan if I live in Cape Town? If you are in this process don’t worry, we are here to give you a hand with all these queries, and we’ll tell you all you need to know about Better Bond Home Loans and help you decide the best choice for you.
To start with, let me tell you the requirements. In order to apply for a home loan you need to be pre-qualified by Better Bond and be placed under credit check along with financial assessments. All these procedures will be accompanied by specific documentation you will be asked to submit.
Before being pre-approved, Better Bond will help you calculate how much money are you capable of asking for. They take into account information like your total income and expenses and also the expected interest rate and the period of repayment – which goes from 5 to 20 months- and, once they have the results they let you know the amount of money you can pay every month and how much money you can borrow. This is helpful especially to organize yourself when deciding what kind of house you can purchase. The next step would be receiving a certificate from the part of Better Bond Home Loans for you to have evidence of having been pre-qualified, which would be valid for 3 months. I must tell you that this certificate provides you with a great advantage: sellers would rely on your offer as they are already notified that you can afford to buy a house. So, it will avoid a bad attitude from the part of possible sellers when going around trying to find your perfect house.
In order to go on to the next step, you should send Better Bond the Offer to Purchase and the application form for them to share it with the banks and get you the best deal. Please, take into account that you should contact Better Bond before sending these documents for them to help you through this part of the process. Also, you should know that confirmation on the approval should take 48 hours, but in case it took longer Better Bond will keep you posted about your application situation.
What about clients reviews?
If you are wondering about the efficacy of the service I will tell you that Better Bond clients all agree that the service is really effective and helpful. The most popular benefit home buyers speak about is the vast amount of offers Better Bond can get them. The reason is simple, along with this offers comes the possibility of getting a rate that comes out to be really beneficial for clients. Some of them claim that they could get a rate as low as 0,5%.
Find the best loan of South Africa
As BetterBond has grown rapidly since its beginning, now they have plenty of local branches for you to visit. So, no matter in which part of South Africa you are I can assure you that you will find a branch close to you. For example, in the region of Western Cape you will find a branch at Waterford Place, Block 4, Century Boulevard. If you are wondering about Eastern Cape there is a branch at Regency House 35a Third Avenue, or for instance in the city of Randburg you will find the Head Office at Block 9 Pendoring Office, Park 299 Pendoring Road.
As I mention before, Better Bond has many local branches in South Africa so you can call the number 0800 007 111 to find out which is your local branch.
If you have never bought a house or asked for a loan you may have a lot of questions about this new world. So, let me clarify some of the most common queries home buyers usually have.
a. Is this service free of charge?
Yes! All this procedure along with the proper assistance Better Bond offers are free of charge. So, don’t worry about having an extra price to pay because this won’t happen.
b. Would banks offer me a lower rate if I apply through Better Bond?
No, banks decide on their own the rate, but consultants form Better Bond will try as much as possible to get you the lowest rate possible.
c. What exactly is a bond originator?
A bond originator is a service offered to home buyers to assist them on the process of applying for a loan. The originator is the point of contact with banks as they are the ones that submit your application. Through this contact between the originator and the banks, they try to get the beast rate for their clients. This provides two important benefits. One of them is that home buyers avoid the stressful procedure of discussing with banks to try to take the most beneficial deal for them; and the other benefit is that as bond originators work with a vast variety of banks, clients receive a great number of offers to choose form, which gives them more chances of getting a better deal.
d. If I fail to clear the repayment term, will that have a consequence on my credit rating?
Remember that a loan is a legal agreement you have with the bank, so it is very important that you maintain your repayments updated to avoid future complications when trying to obtain another credit. Why is that? Because any monthly payment that you miss will for sure disturb your credit rating, as banks will see you as incapable of complying with a contract.
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Questions and answers
What is the extra fee?
None! You don't have to pay extra fee.
What do I need to apply for a loan?
You need to be pre-qualified.
Can I pre-qualify online?
Yes, you can.