How much does this service cost?
It is a free service to consumers.
Why is it free, how does the originator make money?
Once the home loan has been registered the participating banks pay the originator an outsourcing fee. This fee is not added to the costs that you incur.
What is the agreement between Bond Originators and me, the purchaser?
You do not need to complete any forms, our consultant will complete the application on your behalf at your convenience.
How many forms do I need to complete?
A Bond Originators consultant will use the information you supply online to contact you to complete a full application over the phone.
What information do you need?
We need all your personal and financial information, as well as your bank details. This is normal procedure in order to apply for a loan on your behalf.
How many banks do you apply to?
We allow you a choice between participating banks.
Which banks do you apply to?
We apply to all the major retail banks. If you are already a client of one these banks we will apply to that particular bank first, given that you agree to do that.
Will I be able to directly compare the different packages offered?
Yes. Our consultant will explain the different packages.
How long does it take before the mortgage bond is approved?
The participating banks undertake approval in principal within 72 hours provided that they have all the relevant information.
How can I determine the status of the application process?
Your consultant will keep you updated on the application process.
Will I get documented proof of the approved loan?
Yes. Our consultant will forward the approval documentation to you.
How secure is my information?
We are committed to the Code of Banking Practice which specifies that we ensure that your personal information is protected.
Do you sell my information to any organisation?
No. The Code of Banking Practice prevents us from selling any information without your consent.
Do you guarantee to get me a loan?
We have established strong relationships with the participating banks, but all lending by banks is subject to your ability to afford the loan and willingness to repay.
Do you follow the registration of the mortgage until registration?
Yes. We ensure that you are kept informed through the whole process. We monitor your application, give you feedback and liaise with conveyancers.