The Role Of Bond Originators
Bond originators or mortgage brokers acts as an intermediary who sources mortgage bonds on behalf of individuals or businesses.
Traditionally, banks and other lending institutions have distributed their own products. However as markets for mortgages have become more competitive, the role of bond originators has become more popular. In competitive mortgage markets many lenders use an array of rate offers and other incentives to attract customers.
To many consumers, due to their infrequent purchases of mortgage products, the mortgage market may appear confusing and somewhat daunting. Bond originators can guide them through the process of selecting a suitable mortgage and offer mortgage and property related financial advice
For borrowers with poor credit records, or other unusual circumstances, finding a lender may be difficult. Bond originators, having specialised knowledge and multiple lending sources, will normally be a valuable resource in obtaining financing.
Bond originators receive a fee from the banks and not their clients. The sheer volume of business provided by bond originators to the banks, gives the originator negotiating power to muscle low rates for their clients. Usually the home loan process is much quicker when using bond originators.
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Assessing the market to find a mortgage product that fits the clients needs at the lowest possible interest rate.
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Applying for a lenders agreement in principle (pre-approval) Gathering all needed documents (payslips, bank statements, etc.)
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Completing a lender application form.
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Explaining the legal disclosures.
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Submitting all material to the lender.
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In light of the changing market conditions , ABSA
Home Loans have taken a decision to increase MY
HOME income levels from R 7500 to R 11000 with
unlimited purchase price. Absa Home Loans
