Seven super reasons to use the services of a bond originator
The bond origination industry has put billions of rands back into homebuyers' pockets since it started up in SA almost 20 years ago. And it still continues to cut down the cost of homeownership, helping hundreds of thousands of people find a home of their own.
Bond origination was a major disruptor in the real estate industry when it first landed on our shores, and it's proved to be a true consumer champion. Rudi Botha, CEO of the BetterLife Group, remembers those early days: 'Not only did we take the hassle out of applying for a home loan and reduce the time it takes to be approved, but we also gave buyers a way to make sure they were offered the most favourable loan package and interest rate.'
Since then, BetterBond has helped homeowners save billions. In an average year, BetterBond secures about R35 billion worth of new home loans. And by negotiating with multiple banks for the best deals, an interest rate difference of just 0.25% on those loans alone is worth around R1.5 billion. Factor in the rate concessions we negotiate that are more than 0.25%, and you get a clear sense of the savings we've achieved over the years.
To break it down into more relatable figures, an interest rate difference of just 0.5% on a R1 million home loan could save the buyer about R80 000 over a 20-year bond term.
But that's just one of the reasons you should be making use of a bond originator. Here are six more seriously 'wow' reasons to start your homebuying journey with us:
- We have a much higher rate of success when it comes to getting home loans approved. Our average approval rate is around 75%, compared to the current average approval rate of 35% for buyers who go it alone. This means that we help more than 34 000 people a year to buy their dream homes. And that's our dream — for all South Africans to own a home of their own!
- We manage the whole application process for you, from completing application forms and collating supporting documents to writing individual loan motivations and submitting applications to multiple banks. This means that you don't have to spend time taking all your paperwork from bank to bank to secure a home loan.
- We can usually get a home loan application processed in a matter of days, because our expert consultants don't just leave things to chance. They motivate and monitor the progress of each application so that you're always in the loop and don't have to wait endlessly for an answer.
- We'll also get you pre-qualified so that you have a good idea of your purchasing power. This means you can narrow your search down to homes you can actually afford, and it also reassures sellers that you're a safe bet.
- We identify issues that might prevent you from getting that home loan, and we'll even suggest how you can fix those issues before you apply. We might advise you to save up for a bigger deposit or clean up your credit record — all to improve your chances of bond approval at a great interest rate.
- We approach other banks besides the one where you have your current bond, so that you get the best home loan deal- because the banks will compete for your business.
And — it gets even better! — we do all this without charging you a cent. You'll pay the exact same bank fees, whether you go it alone or with us. Because we're doing the admin for the banks that they would have had to do themselves, so they simply pay us a once-off fee. Yet another great reason to start your journey with us.