Why being informed about home insurance is imperative
Why being well-informed about home insurance is in your best interest.Watch the video
Why you need homeowners cover and how to avoid over- or under-insuring your property.Read more
What the bank lends you is not the only cost to consider – make sure you have the full picture.Read more
Deep Dive: Owning it
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What comes to mind when you think of a home loan? Monthly instalments, long-term financial commitment, outstanding balance? Fair enough! But how about looking at your home loan completely differently?
What's the difference between buying a sectional title vs. freehold property
Torn between Sectional title or freehold property? Here's what you need to know before deciding to buy.
Paid off your bond? Now put that bond account to use
Most of us can't afford to haul out cash for our homes – we have to rely on home loans that can cost us up to 30% of our monthly income in repayments. It's no wonder that we're eager to be...
It’s simple, really! We’re a specialist home insurer, focused entirely on the homeownership space. And with BetterBond as our partner, we’ve got the entire home-buying business covered.
We believe that every bit better your home insurance is, ultimately prevents your life from getting that much worse. And that’s why we’ll offer you meaningful insurance options – like whole-of-life cover that extends well beyond your bond, even when it’s fully paid up.
We’ll ensure that your better home insurance costs you less and offers you more cover, because that financial protection becomes a partnership for the better, when life heads for the worse.
So, why settle for any insurer when you know better?
You’ll need to have homeowners cover in place if you hope to secure a home loan for a free-standing residential property. Of course, you can choose any cover you want, as long as it meets all the bank’s minimum requirements – and our BetterSure Homeowners Cover (HOC) ticks all the boxes!
Nope! We’re not affiliated with bank insurance in any way. So, it’s really, really important that you make sure you’ve selected only one homeowners cover, or you’ll be paying double the premiums each month!
Obviously, we’d love you to choose our cover, because we offer you a range of unique, meaningful benefits, like maintenance cover and an annual geyser inspection – which you won’t get with other insurers! And because we’re home loan specialists, and we work closely with our sister company BetterBond to bring you a full-circle service, we like to think we know exactly what new homeowners need.
Just remember, when choosing your insurance policy, always ask about the cover, exclusions, excesses and any additional benefits, so that you have all the info you need to make an informed choice.
Sadly, yes – because the price of bricks, cement, fixtures and fittings increases each year, and so the cost of maintenance and repairs also increases. To make sure you’ve always got enough cover, the sum insured of your property will also have to increase. We do this to make sure you are never under-insured.
When you choose an ‘ordinary’ loan, your policy will kick in when your bond is registered.
When you choose a building loan, your policy will kick in only once a BetterSure Financial service consultant has contacted you to confirm the date of completion.
But it’s always a good idea to double check that your cover has been activated. To find out, just give us a call.
We’re really determined to make the insurance process simpler, easier, better. So, if you’ve taken a bond through BetterBond or any of our partners, we have a unique policy just for you – and no medical underwriting or tests are required!
All you have to do is answer a few simple questions so that we can provide you with a competitive rate.
Nope. Unlike conventional life policies, our BetterLife Protection Plan continues even after your bond is paid off, so that you never lose that protection.
It’s really up to you! You can request that your life policy kicks in when your bond is registered, or you can start sooner.
But we always recommend that you start your policy sooner. Why? Well, to be honest, if anything should happen to you before the registration of your dream home, at least your family will still have the opportunity to continue with that dream.
At BetterSure, we want to make sure your insurance policy protects your loved ones for the better, when life takes a turn for the worse.
Then there are a few once-off costs that you will need to pay such as your transfer costs, transfer duties, initiation fees and bond registration costs. However, aside from these once-off costs, the only amount you will have to pay will be your monthly home loan repayment. For more information.
The transfer cost is a once-off fee you will pay the transferring / conveyancing attorney. This fee covers their cost of registering you as the owner of the property with the Deeds Office.
The transfer duty is a government tax (the higher amount you pay on a property, the higher your transfer duty).
This is the amount that the bank charges you in order register your home loan.
Your monthly repayment includes the amount you owe the bank along with the interest owed to the bank.
Upfront costs relate to the bank’s initiation fee, the transfer cost, transfer duty, deeds office levy, postage, petties and other application fees applicable.
Yes you can. By paying more into your bond, you can decrease the loan term and also pay less interest.
Sectional title speaks to complex living, where you essentially own everything within the four walls of your property, but whatever is outside that – hallways, lifts, gardens and recreational spaces – is communally owned and cared for. With freehold title, in contrast, you’re the queen or king of your complete kingdom – house, out-buildings, land and leisure areas.
Free-standing houses, cluster homes, residential properties used for small businesses, smallholdings.
Semi-detached homes, townhouses, flats/apartments, duet houses.
It almost always makes more sense to buy rather than rent a home, simply because, as a tenant, you’re paying monthly into another person’s pocket what you could be paying into your own bond account.
Because the value of property appreciates over the years, and the size of the outstanding home loan decreases month by month.