A bond originator simplifies the home finance process, engaging with multiple banks, including your own, and keeps you informed every step of the way to ensure you get the best home loan that suits your needs.

For sure! Your dedicated Home Loans Specialist will secure you the best possible home loan approval from various Financial Service Providers. Our professional expertise will benefit you all the way as our Home Loans Specialist takes care of the paperwork, understands bank credit and processes inside and out and confidently negotiates the home loan to suit your needs. Our level of ownership and expertise will substantially increase your chances of obtaining the best loan amount, loan conditions and also the best interest rate.

Convenience is our password! One interview... one set of documents... one dedicated Home Loans Specialist to deal with. Our professional expertise and ownership will substantially increase your chances of obtaining the best loan options available across multiple banks, which you may not have access to, if you apply directly to your bank. We stay loyal, by submitting your home loan application to your bank first, and then negotiating with the other banks to secure the best interest rate on your home loan. This will give you the assurance that you have considered all possible offers.

Our service comes at NO cost to you. The bank that approves the home loan pays us a fee once the bond is registered.

Yes, indeed. You have the freedom to select your preferred bond originator to deal with your home loan application.

A Bond pre-approval is an essential step in the journey to owning your dream home. It indicates the home loan size that the major banks may be willing to offer you based on your affordability, credit score and other financial information.

A pre-approval is a quick indication of the home loan size that the major banks may be willing to offer you based on your affordability, credit score and other financial information.

A bond pre-approval is not the actual home loan amount you might be eligible to borrow from a bank, but rather serves as an indication to sellers and real estate agents that you have undergone a thorough financial evaluation. This will enhance your credibility as a serious homebuyer. Once you find your dream home, we will approach multiple lenders and source you a home loan approval. A pre-approval accelerates the formal home loan process and may lead to quicker approval.

A pre-approval is a positive step, but no guarantee that your home loan application will be approved. A formal home loan application is subject to a more comprehensive evaluation of your financial position and status. Lenders will also need to verify the value of the property you intend to purchase.

That is great! This is the best way to approach real estate agents and sellers and start the search to find your dream home. It will give you an advantage over other buyers who have not undergone the pre-approval process.

You can apply for a home loan in any season of your life. Lenders will offer home loans tailored to clients in various age groups, including older borrowers. Speak to your GetGo Home Loans Specialist to understand the various banks' policies and options available to borrowers in your specific age bracket. In most cases, banks have age limits, where full repayment of the home loan is expected. Usually this is by the time the client reaches the age of 65 - 75.

As a rule of thumb, affordability for a home loan is based around 30% of your gross monthly income as well as on disposable income. A pre-approval is the best way to kick off your journey in searching for your dream home. Owning a home is a long-term commitment and should complement your lifestyle, but at the same time fit your monthly budget. Take your time to determine your comfortable home loan repayment and be honest in terms of your reliable income and monthly expenses. Consider future savings, such as retirement planning and upcoming expenses like children's education fees, travelling and home improvements, when planning your finances. Do the maths, because the banks definitely will. Our bond affordability calculators take the guesswork out of the numbers. Try them now.

Affordability simply means whether you can comfortably pay for something without causing financial stress or difficulty. Credit providers are required to take the necessary steps to validate an applicant’s gross earnings by using their recent proof of income, validating net earnings against the recent bank statements and considering all contractual debt as per the Consumer Credit Profile, including all other monthly living expenses. Be honest and realistic when disclosing your financial obligations.

Banks may approve 100% bonds if your credit history is clear and you can demonstrate a comfortable ability to afford the home loan repayment.

You can register a bond higher than the loan amount you need. Over time, as the property value increases, having a larger bond amount allows you to secure additional financing without the inconvenience of registering a further bond.

A good credit rating is crucial when applying for a home loan. Lenders use your credit history to assess your creditworthiness and determine the terms of the loan. A good credit score reflects financial responsibility and discipline, which may lead to easier approval of your home loan application, a higher loan amount than you requested, lower interest rates and better loan terms.

Lenders are willing to extend credit to consumers with a "Good/Excellent" credit score. A "Good/Excellent" credit score clearly indicates that a consumer is financially disciplined and will repay borrowed money. The good news is, it's way better than having poor credit. Whilst lenders may still consider credit for consumers with a "Fair" credit score, by boosting a "Fair" credit score to "Good/Excellent", you can unlock better home loan offerings from banks, negotiate lower interest rates and be assured of more home loan options to choose from.

How to improve your credit score:

1. Don't miss any credit payments - Your payment history is one of the most important aspects in determining your credit score. A history of on-time payments can help you to achieve an excellent credit score.

2. Keep credit account balances low - Use your credit card and revolving credit facilities responsibly by aiming to keep the balances low, as high credit utilization can negatively affect your credit score. 

3. Limit the opening of too many new credit accounts - Opening numerous credit accounts in a short period can impact your credit score negatively as it is associated with "hard" inquiries and can indicate that there has been a significant change in your financial circumstances and that you rely too much on credit. Therefore, manage and monitor your credit applications to maintain a stable financial profile. Even when approved offers are not accepted, your credit profile will show that you have applied for credit - "hard" inquiries will leave a footprint on your credit profile.

4. Catch up on overdue accounts - Bring overdue accounts up to date as it can improve your score by stopping further late payments from being added to your credit history.

5. Maintain a healthy mix of credit - Maintain a healthy mix of credit, e.g., retail store accounts, credit cards, home loan and service contracts such as cell phone accounts, to establish a strong credit history.

The application process varies for entrepreneurs. Lenders carefully evaluate income stability, affordability and documentation for self-employed individuals. Ensuring well-organized business financials, documented personal income and a strong credit profile will enhance your home loan application. Consulting with a GetGo Home Loans Specialist is beneficial, as he/she will guide you based on your specific needs and situations, including bank requirements for deposits and minimum required documentation.

Owning a property can impact your home loan application, as it becomes an important factor in assessing your financial situation. Factors lenders may consider are the value of your existing property, the outstanding liability you have on your existing property and rental income (if applicable). This information can influence the amount you are eligible to borrow for a new home loan. Consulting with a GetGo Home Loans Specialist will provide valuable insights tailored to your specific needs.

Lenders typically assess your overall financial situation, including the existing rental income, to determine eligibility (according to the bank's credit policy & criteria). A GetGo Home Loans Specialist will advise you with accurate and up-to-date information and product criteria based on your circumstances.

Paying additional funds into your home, over and above the monthly instalment, can significantly reduce long-term interest payments and reduce the term of the loan. Don't underestimate the impact that a very modest amount can make. It also helps to build equity much faster, which provides you financial flexibility like home renovations and investment opportunities. Access to funds anytime.

Explore our calculators page for confirmation of the prevailing prime interest rate. The interest rate on your home loan is tied to the prime lending rate. This means that fluctuations in the prime lending rate can directly impact the interest you pay on your home loan, which can influence your overall loan cost. Rate offerings from lenders are dependent on several factors like your credit rating, deposit and your relationship with your bank. At GetGo Home Loans, we are committed to negotiating hard to secure the very best interest rate for you, because we know it’s important in the long run.

When you apply for a home loan, it is by default on the basis of a variable interest rate. Only once your bond has been registered, can you apply for a fixed interest rate and then there is a strict time limit attached before the offer lapses.

A client’s financial circumstances will be the main driver to fixing the home loan interest rate or not. A fixed rate makes it easier to plan ahead with home loan repayments. Affordability should be assessed before fixing an interest rate – it should be compared to the client’s needs and what he/she can and will be able to afford. It is suggested to gather as much information possible, plan the financial outlook realistically and familiarize yourself with the terms and conditions of your home loan agreement. Never be afraid to call on the experts for some more advice.

Providing a deposit leads to securing a better interest rate, as a deposit lowers the lender's risk. A deposit reduces the required home loan amount, which in turn lowers your monthly repayments. If the interest rate is more favourable, the interest you will be charged over the term of the loan, will be significantly lower. We advise making a deposit whenever feasible. Use the GGHL calculators to assess your affordability.

A deposit complements your profile, making you a more favourable borrower to lenders. A deposit reduces the total loan amount and risk to the bank, which in turn usually results in a lower interest rate being offered to the homebuyer, which in turn lowers monthly repayments. This accelerates building equity in the home loan.

The Offer to Purchase is a written document signed by the homebuyer and the seller that documents the conditions that need to be met for the purchase of the property to go ahead. Once the Offer to Purchase is signed, the homebuyer applies for a home loan from a lender. Once the lender approves the home loan, the bond registration and property transfer take place.

1. The seller will review the signed OTP and either accept it as is or may negotiate specific terms.

2. The buyer needs to pay the agreed-upon deposit, if required.

3. If the buyer is financing the purchase with a home loan, he/she needs to apply for the loan.

4. The transferring attorney starts the property transfer process.

5. During this time, the buyer may conduct a property inspection or valuation to ensure the property is in the expected condition and value.

6. If there are any conditions or suspensive clauses in the OTP, such as obtaining a home loan or selling an existing property, these conditions need to be met within the specified timeframe.

7. Once all conditions have been met, the transferring attorney will prepare the necessary documents for the property transfer and registration.

8. Both the buyer and seller, or their appointed representatives, will meet at the Deeds Office to sign the necessary documents. The property is officially transferred to the buyer and the title deed is registered in his/her name.

9. On the day of registration, the buyer is required to pay the balance of the purchase price to the transferring attorney. The transferring attorney will distribute the funds to the seller, settling any outstanding amounts and fees.

10. After registration, the buyer takes possession of the property as per the agreed occupation date.

An access bond is a facility to pay extra money into your home loan, over and above the required minimum repayments, and withdraw the extra funds when needed.

Bond Insurance is voluntary, but some lenders require Bond Insurance to be compulsory. Bond Insurance gives the homebuyer peace of mind that his/her loved ones are covered when unforeseen circumstances appear, that the home loan repayments are paid and no financial difficulty will be suffered. Bond Insurance covers the policyholder's outstanding home loan amount in the event of death, serious illness, temporary and permanent disability or retrenchment (options are flexible). Depending on the type of cover the policyholder opted for, the outstanding loan can be either settled or the monthly repayments made. GetGo Home Loans also offers homebuyers an option for this cover – the GetGo Home Loans Specialist will discuss these options and the process with you during the interview.

The registration process takes between 8 & 12 weeks to finalize.

See answer in hidden costs - this is thoroughly unpacked.

The transferring attorney will be appointed by the seller, but the homebuyer needs to pay a fee for registering the ownership in his/her name. These costs include the Conveyancer's Fee for the Property Transfer, Transfer Duty, Sundries/Postage & Petties and the Deeds Office Registry Fee.

The Transfer Duty is tax that needs to be paid to SARS and is normally the largest cost payable over and above the purchase price of the property. If you should buy from a seller who is VAT registered, e.g., when buying a property in a new development, you will pay VAT instead of Transfer Duty.

The bond registration costs include - the Conveyancer's Fee for Bond Registration, Sundries/Postage & Petties and the Deeds Office Registry Fee.

The homebuying process usually involves 3 types of conveyancing attorneys, who will levy a fee for their services - the bond attorney will register your bond and base their fee on the preparation of documents and registering the bond in the Deeds Office. Lenders have brilliant relationships with their conveyancing panels and most of the time pre-negotiate a discount for the fees you will be paying (terms & conditions apply). The transferring attorney will be appointed by the seller, but the homebuyer needs to pay a fee for registering the ownership in his/her name.

Your biggest expenses are transfer costs, transfer duties and bond registration costs. These need to be factored into your calculations.

1. Bond Initiation Fee - The bank approving your home loan will charge you a fee for opening and initiating the bond. This is a fee that is charged in terms of the National Credit Act and may not exceed R6037.50 for individuals. Most lenders are willing to add this fee to the bond amount, but it is wise to rather pay it upfront, instead of ending up paying interest on this amount over 20 years.

2. Insurance Premiums - Having insurance cover on your home loan, offers protection against unexpected events, such as damage to your property or unforeseen financial hardships. Insurance provides a safety net, ensuring you are in a financial position to continue repaying your home loan even if faced with challenges like natural disasters, unexpected accidents or loss of income. Insurance helps to safeguard your home and financial stability.

3. Monthly Service Fee - The lender approving your home loan will charge you a monthly administration fee.

4. Legal Fees - The homebuying process usually involves 3 types of conveyancing attorneys, who will levy a fee for their services - the bond attorney will register your bond and base their fee on the preparation of documents and registering the bond in the Deeds Office. Lenders have brilliant relationships with their conveyancing panels and most of the time pre-negotiate a discount for the fees you will be paying (terms & conditions apply). The transferring attorney will be appointed by the seller, but the homebuyer needs to pay a fee for registering the ownership in his/her name. The bond cancellation attorney will be required to cancel any existing bond/s on the property. It is important to mention that this is a different fee from the 90-day penalty interest that some bondholders charge when a bond is under cancellation.

5. Deeds Office Fee - The Deeds Office charge a fee for registering the bond over the Title Deed. The transferring attorney usually pays this fee and will bill you for it.

6. Transfer Duty - The Transfer Duty is tax that needs to be paid to SARS and is normally the largest cost payable over and above the purchase price of the property. If you should buy from a seller who is VAT registered, e.g., when buying a property in a new development, you will pay VAT instead of Transfer Duty.

7. Moving Costs - Moving into your property is an exciting but pricey moment. Most people require the services of a moving company to move their furnishings into their new home. Avoid any financial stress by doing your research on moving options upfront and budget for packing supplies, hiring movers, renting a moving truck and time off from work.

8. Connecting to Utilities - The owner of a freehold property needs to register at their local authority for water and electricity. When registering a new water & electricity account, usually a deposit is required upfront. Connection to fibre or an Internet Provider might also be a requirement depending on your needs.

9. Rates & Levies - Rates and levies will be dependent on the property type you own and either payable to the local authority or the body corporate. Municipal rates are levied monthly for the services provided by the local authority - refuse removal, sewerage facilities, road maintenance, etc.

10. Security, maintenance & renovations - Depending on the location of your property, the suburb you live in might have security in place, which you will need to make a monthly contribution to. Alternatively, you might decide to contract an armed response company.

An Offer to Purchase is a legally binding document, and should you do so, it will incur penalties unless a condition or clause included in the Offer to Purchase has not been met by one of the parties. The buyer can cancel the application but will be faced with penalties like losing a deposit, liability for the agent's commission, and if the transfer is already underway, the attorney responsible for the transfer can claim costs from the buyer and the seller might claim damages suffered.

Any lender has the right to review a loan application at any given time from the date of approval to the date of registration. The Home Loan Quotation includes a section for Special Conditions, clearly outlining and emphasizing the special terms and requirements.

Receiving the news that your home loan application has been declined is always disappointing.

The major reasons for declines:

1. Affordability - The financial capacity of the applicant to comfortably cover the costs associated with buying a property is not evident.

2. Poor Payment Profile - Inconsistent behaviour or delayed repayment of financial obligations, which lowers the credit score and makes it challenging to secure a home loan.

Selling your property privately may save on estate agent fees, but will require more personal involvement. Estate agents on the other hand can provide their expertise and assistance throughout the selling process. It's worth the while to consider your comfort with the legal aspects, marketing and negotiations before making a final decision.

Deciding between selling and renting your property depends on your unique personal and financial situation. Selling will offer you immediate funds, while renting can ensure a steady income stream. Evaluate the local real estate market and factor in your long-term plans, such as the likelihood of returning to live in the area permanently.

Capital Gains Tax is not a separate tax but forms part of Income Tax. Capital Gains Tax is applicable when you sell an asset for a profit. Not all assets attract Capital Gains Tax. It is advised to consider the relevant legislation and guidelines from the South African Revenue Service (SARS) or/and speak to a Tax Professional.