Mortgage - Bond Origination - Home Loans
From the time of visiting a preferred area to hunt for a suitable property, applying for a bond, registering the bond, transferring the property to the day of occupation, it is quite an involved process with many role players playing their part.
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With the Russia – Ukraine conflict in full swing, the economic growth prospects of a world reeling from the effects of the Covid-19 pandemic look bleak. A decline in the energy and food production sectors will certainly result in the disruption of global trade, while pushing inflation higher.
Some credit providers are required by the National Credit Act 34 of 2005 (NCA) to conduct an affordability assessment when an application for credit is lodged.
The National Credit Act 34 of 2005 (NCA), provides in section 3 that its purposes are ‘to promote and advance the social and economic welfare of South Africans, promote a fair, transparent, competitive, sustainable, responsible, efficient, effective and accessible credit market and industry, and to protect consumers.’
With the Covid-19 pandemic still wreaking havoc, it is not exactly clear when we will wave the last wave goodbye.
Lenders try by all means necessary to protect their business interests, as indeed they are operating a business which needs to make profit and secure jobs for its employees.
There are various actors involved when an immovable property is sold, purchased and transferred to the new owner. Estate agents, the seller, the purchaser, the home loan lender, transfer attorneys, bond cancellation attorneys and bond registration attorneys etc.
The income that different people get periodically comes in various forms. For some it comes as a salary per month or per week if they are formally employed, whilst for some it comes as profit in the event that they are self-employed.
While many people execute Wills to bequeath inheritance (e.g assets) to beneficiaries after they pass on, there are other people who prefer superintending on the transfer of assets to their preferred beneficiaries whilst they are still alive.
The insurance business was modelled in response to the “WHAT IFs” which are certain probabilities in our natural everyday life. Having started catering for basic essential things, insurance now covers many interests of human concern and importance from life, property, vehicle to even small gadgets.
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